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Veolia searches for profit from first-world waste
1/9/2015
PARIS (Reuters) - French environmental services group Veolia plans to rummage through the rubbish for valuable raw materials to help offset stagnation in its water business, Chief Executive Antoine Frerot said.
Frerot ruled out acquisitions in the water business and said that water, waste and energy divisions -- which made up 45, 35 and 20 percent of 2014 revenue respectively -- will move towards one third each as technological breakthroughs in waste recovery and scarcity of commodities boost recycling worldwide.
He expects the global recycling market to grow 10-15 percent per year to 40 billion euros by 2020 from 25 billion today. Veolia's recycling turnover should more than double to about 5 billion euros by 2020.
Frerot sees huge potential in the waste flow from developed countries, where high-tech sorting and recycling technologies increasingly turn household and industrial detritus into a source of new commodities and energy.