Pennon Group
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| Type | Public (LSE: PNN) |
|---|---|
| Industry | Water and waste |
| Founded | 1989 |
| Headquarters | Exeter, England |
| Key people | Ken Harvey, (Chairman) Colin Drummond, (CEO) |
| Revenue | £1,068.9 million (2010)[1] |
| Operating income | £264.3 million (2010)[1] |
| Net income | £139.5 million (2010)[1] |
| Website | pennon-group.co.uk |
Pennon Group plc (LSE: PNN) is a British water utility and waste management company based in Exeter, Devon in the United Kingdom. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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[edit] History
The company was founded in 1989 as South West Water plc at the time of the privatisation of the Water Industry in England.[2] In 1993 it acquired Haul Waste and in 1995 it bought Blue Circle Waste Management.[2] It changed its name to Pennon Group plc in 1998.[2]
The company successfully saw off a takeover bid from Terra Firma in 2004.[3]
It acquired Thames Waste Management[4] in 2004, Wyvern Waste[5] in 2006, Grosvenor Waste Management[6] and Skipaway Holdings[7] in 2007 and Shore Recycling[8] in 2008.
[edit] Operations
The company's main asset is South West Water, which supplies water and sewerage services in Cornwall, Devon and parts of Dorset and Somerset.[9] It also owns Viridor, a waste management business.[10]
[edit] References
- ^ a b c Annual Report 2010
- ^ a b c Pennon Group: History
- ^ Terra Firma gives up in battle for British waste
- ^ Viridor buys Thames Waste and expands landfill capacity
- ^ Pennon Group announces the acquisition of Wyvern Waste Services
- ^ Viridor buys Grosvenor Waste Management for £81m
- ^ Pennon Group's Viridor acquires UK waste management company for £14.7m
- ^ Pennon buys recycle firm for £23m
- ^ Pennon Group: South West Water
- ^ Pennon Group: Viridor
