Waste electrical and electronic equipment recycler SWEEEP has entered into a joint venture with Finnish company Kuusakoski, a WEEE and non-ferrous metal recycler.
As a result, Kuusakoski has bought half of the shares of SWEEEP for £6m.
Both companies hope the partnership will further improve the way WEEE is recycled in the UK, as Kuusakoski offers SWEEEP its 40-year WEEE recycling experience, while Kuusakoski increases its presence in the UK. Kuusakosi already recycles stainless steel in Sheffield, while SWEEEP owns a WEEE recycling plant at the Thames Gateway, Sittingbourne.
Moving forward the company will now be known as SWEEEP/Kuusakoski.
SWEEEP managing director Patrick Watts said: “The relationship with Kuusakoski enables SWEEEP, an already rapidly expanding business, to expand even more rapidly and in a more definite direction.
“It has certain technologies it can bring to us that can further refine our metal outputs, so instead of having just stainless steel, we will be able to refine it into different grades. It will therefore raise the benchmark for WEEE recycling in the UK. “
Commenting on the expansion plans in the UK, Watts said: “We are definitely in consultation to see where there might be an opportunity to open another plant elsewhere or maybe an acquisition. We hope to utilise Kuusakoski’s business in Sheffield regarding stainless steel and also because of its location, which would be useful for us for logistics purposes.”
The joint venture now makes Kuusakoski a pan-European company. It has offices all over the world. Its managing director Timo Kuusakoski said: “SWEEEP is one of the UK’s leading WEEE organisations and we see in the team a perfect fit with our own aspirations in the UK marketplace”