Derichebourg sells two subsidiaries to Italian firm

France-based environmental services firm Derichebourg Environnement has signed an agreement to sell two of its subsidiaries -- San Germano and CMT companies – to Italy-based Iren Ambiente. The companies being sold provide residential waste and recycling collection, urban cleaning services and waste and recycling processing activities in Italy.

The deal is expected to be completed by the end of 2018.

San Germano provides its services in the Piedmont, Lombardy and Sardinia regions of Italy. CMT offers collection and processing services for recovered fiber, cardboard and plastic scrap at six locations in Piedmont and Sardinia.

Derichebourg’s proposed sale is part of what the company calls its goal of refocusing on its core business, seeking to improve the profitability of the capital employed by the group and reducing the scope of its activities in Italy. In the long term, Derichebourg says it expects to focus on scrap metal recycling, according to a company press release.

Derichebourg Environnement is part of the Derichebourg Group, which has a presence in 15 countries on three continents and has 36,500 employees worldwide. The Derichebourg Group generated sales of €2.7 billion ($3.08 billion) in 2017.