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Mercury makes £1.1m swoop

Kevin Feddy
9/ 5/2008

MERCURY Recycling has bought a rival group for a total of £1.1m.

Trafford Park-based Mercury Recycling has bought the Envirolite Group, which has sites in Solihull, Ringwood in Hampshire and Perth, Scotland.

Mercury recycles batteries, fluorescent light tubes and sodium street lights. Envirolite provides similar services to consumers and industrial customers.

In the year to March 31, Envirolite generated sales of just over £1m and pre-tax profits of £248,000.

Mercury Recycling said the acquisition would complement its existing businesses and bring it new areas of geographic coverage.

It added that it intends to rationalise the businesses and manage them from its Trafford Park headquarters to achieve further cost savings.

Shares in AIM-listed Mercury rose six per cent, or 1p, to 18p.

It has paid £850,000 initially with the remaining £250,000 due within three months.
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