Waste firm to create 35 jobs
The €15m investment is the Middle East company’s first foray into the European market and will result in the roll out of a major European expansion over the coming years, with Ireland as the company’s European headquarters.
The deal will see Averda take a majority shareholding in The City Bin Company as well as other operational investments.
Gene Browne, CEO of The City Bin Company, said the creation of 35 new jobs represents a 50% increase in the company’s workforce.
“The City Bin Company has ambitious growth plans for the future and prides itself on its customer centric business model. The Averda deal is a welcome signal of international confidence in our model and an excellent opportunity to drive international best practice in the European waste sector.”
Phil Hogan, environment, community and local government minister, said: “In launching the Government’s new waste policy last July, I was ensuring that the industry could make investment decisions with policy certainty. Therefore, in that context, it is very encouraging to see a home grown company attracting international investment to Ireland.
“The City Bin Company is fast becoming a market leader for customer service in its sector and the creation of 35 jobs is great news for Dublin and Galway.”
Malek Sukkar, CEO of Averda, said: “ The City Bin Company has an excellent reputation across the global industry and the team there has consistently demonstrated their abilities. We look forward to rolling their business model out in Ireland and elsewhere.”
