Wood recycler GI Hadfield and Son has become the holding company for Hadfield Wood Recyclers and UK Wood Recycling in a bid to simplify the companies’ operations.
Trading for more than 30 years, GI Hadfield has been referred to as Hadfield Wood Recyclers for most of its lifetime. Then, in 2005, Middlesborough-based UK Wood Recycling was set up as a separate recycling business from Hadfield. The structural change means the two recycling companies are now wholly-owned subsidiaries of GI Hadfield and Son.
It is expected to streamline the companies’ accounting processes, simplify inter-company transactions and benefit from operating within a formal group structure.
The move will not affect the day-to-day running of any of the companies.
Group finance director Paul Harrison said: “The move to a group holding status is a much simpler structure for Hadfield Wood Recyclers and UK Wood Recycling. It will mean both companies can operate individually but also benefit from being part of a larger group.”