FCC Environment CEE sells its activities in Bulgaria
On September 8th, 2020, FCC Environment CEE closed the sales process of all activities in Bulgaria to a local waste management company. The process which started in March 2020 was approved by competition authorities in Bulgaria and means the takeover of 100% of the shares of FCC Bulgaria.
"We still find the Bulgarian market very attractive and with a great potential. In the last years we were pleased to operate there and also with the achievements we reached here. The sale is a reaction to the interesting offer we received. We hereby follow also our strategic priority to focus on the core territories in CEE region", said Björn Mittendorfer, CEO of FCC Environment CEE.
FCC Environment CEE (formerly .A.S.A.) started the business in Bulgaria in 2008 by purchase of the activities from the German waste management company Scheele. At that time, sales amounted to 6 M€ with an EBITDA of app. 1.0 M€ and net income close to zero. 12 years later, Bulgaria generated sales of 16 M€ and EBITDA of 2.3 M€ and very positive net income mainly stemming from 3 bigger locations, one of them in Sofia.
We appreciate the cooperation with our employees and business partners and wish all of them a successful future.