Investors dump Renewi stock

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  • Energy
  • Europe
Renewi warned that its operating profits could fall by €3 million a month Renewi warned that its operating profits could fall by €3 million a monthRENEWI

Investors have dumped a European waste management company after it issued a profit warning over production issues at a main site.

Renewi said that on Wednesday regulators in the Netherlands had requested further details from the company about its treated soil. The scrutiny meant full production at the plant, which is one of the biggest in Europe and treats contaminated soil and water, was not expected during its financial year and would hit operating profits by up to €3 million a month.

Renewi was created through a €482 million merger of Shanks and Van Gansewinkel Groep and has about 8,000 staff. It has four divisions, including its municipal waste business, which operates in Britain.

The warning came a few days after Renewi said that Peter…

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  • Energy
  • Europe