Wincanton has sold its recycling business to Sims Group UK in a £17.5m cash deal. It expects to make a profit of £8m.
The recycling business comprises electronics recycling plants at Billingham and Daventry and sortation centres at Harlow and Widnes. The business employs approximately 145 employees who will transfer to Sims under TUPE on completion.
Sims is part of the Australian and New York listed business Sims Metal Management and is a leader in electronic and electrical equipment recovery and recycling.
In the year to 31 March, these recycling activities produced sales of some £18.3m and EBIT of £300,000.