SAO PAULO (Reuters) - Simpar, the parent company of companies such as heavy vehicle rental company Vamos and transport company JSL, announced on Wednesday night the creation of holding company Ciclus Ambiental to consolidate its waste management and sanitation businesses.
The holding company was created after a consortium formed by Simpar and two other companies won the Public-Private Partnership for urban cleaning and solid waste management services promoted by Belém's city hall in January.
Ciclus Ambiental will be born with a potential annual gross revenue of around 900 million reais, said Simpar, and in addition to Belém, it has a presence in Rio de Janeiro.
"The incorporation of Ciclus Ambiental aims to enhance value creation in a promising segment in Brazil, characterized by long-term contracts, resilient, predictable revenues and adequate profitability within a favorable regulatory context and with high barriers to entry," Simpar said in a statement to the market.
Link to the article: Simpar sets up holding company to work in waste management and sanitation (uol.com.br)