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Shanks And Babcock In Teaming Agreement

24 February 2011

Shanks Waste Management Ltd (Shanks) has entered into a teaming agreement with Babcock International (Babcock) in respect of the Wakefield Waste Management 25-year PFI Project. Shanks and Babcock (preferred bidder for the contract) will work together to bring the project to financial close later this year. The agreement provides a mechanism for Shanks to acquire Babcock's waste business following financial close.

The ambitious landfall diversion strategy will see up to 200,000 tonnes of municipal solid waste processed at facilities across the District each year. Facilities will include Materials Recycling Facilities, an anaerobic digestion plant and autoclave technology. The state-of-the-art autoclave facility has already been built and is undergoing a rigorous testing programme before entering full service.

Joanne Roney, Chief Executive of Wakefield Metropolitan District Council said: "We are very pleased that Babcock and Shanks have entered into this agreement and I look forward to working with the team to move the project to financial close."

Tom Drury, Chief Executive of Shanks Group Plc said: "This is another example of Shanks providing long term solutions to the Municipal Sector and using a range of technologies to maximise recycling and diversion from landfill. We look forward to working with Babcock and Wakefield MDC to bring this contract to financial close. Shanks brings genuine proven waste management experience to the Wakefield team and the project. This will bring the total of material handled by Shanks under PFI/PPP agreements to approximately 1.3m tonnes."

Helen Amos