One of the leading players in the UK municipal waste market, Shanks Group plc, has merged with Dutch waste collection and recycling company Van Gansewinkel in a 482 million euro buy-out to become Renewi plc, a major new company in the international waste-to-product market.

The new name, Renewi, reflects the recycling heritage of both companies. It also reflects a common drive for innovation to develop new products and high-quality secondary raw materials for the circular economy of the future.

The new company has roughly 8,000 employees, working across 250 locations in more than nine countries, mostly in Europe but also including Canada. Its combined household and commercial recycling capabilities will continue transforming waste into valuable new products and raw materials. Together, the company currently recycles 1.2 million tonnes of glass, 1.8 million tonnes of demolition waste and rubble, 552,000 tonnes of paper and card and treats about 90 million litres of water a year.

A new senior management team has been put in place to help ensure rapid integration of the two companies’ business processes, led by chief executive, Peter Dilnot.

Dilnot said: “For us, waste is a state of mind, an opportunity. The circular economy is something that we are passionate about and this is captured by Renewi’s fundamental vision to ’waste no more’.”

Renewi is focussing on its partnerships with manufacturers to develop innovative ways to reuse waste. Current projects include: closed loop partnering with Phillips to produce a vacuum cleaner made from 30 per cent recycled plastic from discarded old vacuum cleaners; working with Miele to deliver back cast iron for washing machines; producing bricks from ashes formed by incinerators; and creating packaging from crop waste.

The company manages a range of monostream waste streams which focus on specific end markets such as glass, electronic goods, organics and minerals in Europe. It also conducts specialist industrial cleaning and treats soil, water and packed chemical waste at its flagship hazardous waste facility run by subsidiary ATM near the port of Rotterdam in the Netherlands.

The company also claims to recycle or recover energy from nearly 90 per cent of the waste it receives, transforming around 14 million tonnes of waste into products or energy each year.

Trading on the London Stock Exchange for Renewi, under the new ‘ticker’ RWI, will commence on 1 March 2017.