K + S and the Remondis subsidiary REMEX found the joint waste disposal company REKS. According to the company, both companies intend to open up the rapidly growing market for recycling and disposing of waste as well as sustainable disposal solutions in the joint venture. In addition, K + S hopes for the best possible access for the provision of the materials required in the future, which will be used to cover large heaps at the German potash locations.
“REKS is very important for the strategic realignment of K + S and is a good example of the intelligent use of our unique infrastructure. REMEX is the ideal partner for us to develop a highly integrated business model in waste disposal. We offer our customers the best disposal solutions, generate sustainable effects for the circular economy and conserve natural resources through the optimal use of residual materials, ”says Burkhard Lohr, Chairman of the Executive Board of K + S Aktiengesellschaft.
In terms of the balance sheet, the cooperation also has consequences for K + S: The Kassel-based company brings shares into the joint venture and thus realizes an unspecified book profit, which the raw materials group describes as “notable”. In addition, when the deal closes, K + S will receive 90 million euros in cash that will be used to reduce debts.
Livestream on December 14th, 2020 from 6 p.m .:
With Hans-Werner Sinn, former President of the Ifo Institute: Corona and the miraculous increase in money in Europe
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