Pennon acquires Pulp Friction

Viridor Waste Management, a subsidiary of FTSE 100 water services and waste group Pennon, yesterday acquired Kent-based paper firm Pulp Friction for a total of £9m. Pennon will also take control of the business, assets and goodwill of SBS Paper, a waste paper sorting service with financial links to Pulp Friction. Pulp Friction processes around 100,000 tonnes of paper and card a year. Viridor expects the acquisition to be earnings enhancing in its first full year of operation.