By Phil Boeyen, ShareChat Business News Editor
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Thursday 30th August 2001 |
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United's services include the identification, handling, collection, treatment, disposal and recycling of waste liquids, plus packaged and bulk materials, chemicals, oils, greases, solvents and simple organics.
Solvent is a privately owned company that disposes of and recycles solvent waste for customers. It also imports and sells solvents.
Both companies currently operate what is called a "refine and return" service, in which solvent waste is refined in a solvent distillation unit and then returned to customers for re-use in their operations.
The Commission will investigate if the acquisition would substantially lessen competition in the relevant markets.
Nuplex recently announced a 21% drop in full-year profit for the year ended June of $13.15 million, dragged down in part by a loss from the Australian Medical Waste business it bought in January.
Increased costs and lower construction demand were also blamed however the company says it's viewing the past year as a lowpoint in the business cycle and it remains on the lookout to make further investments in core businesses, both here and in Australia.
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