FCC gets £80 million investment following refinancing deal

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Investment from its owner has given FCC Environment £80 million of additional capital.

The investment from its Spanish owner construction and waste specialist FCC was backed by 100 per cent of the company’s existing investors, and follows the successful completion of a refinancing of the UK environmental services business.

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FCC Environment chief executive Paul Taylor said: “We are well on the way to delivering our strategy of owning the waste and maximising the value of the resource through recycling and renewable energy. This is a clear move away from our historic landfill business.

“This major investment is a clear vote of confidence in our strategy and provides us with necessary financial strength to move forward faster.”

In December, FCC opened a new £11 million materials recycling facility at its Sutton Courtenay site in Oxfordshire.

While its 150,000 tonnes per annum energy from waste facility in Lincolnshire will become operational this spring. Another energy from waste plant at Calvert in Buckinghamshire is currently being constructed.

FCC was also awarded the Cheshire West and Chester contract to manage non-recyclable waste for eight years recently.