Renewi plc has announced that it has successfully reached an agreement with Shanks Dumfries and Galloway Limited, Dumfries and Galloway Council and other parties to exit the Dumfries and Galloway (D&G) PFI operating contract.

The exit from this loss-making contract, on time and for the expected cost, will deliver shareholder value and is aligned with Renewi’s strategy to actively manage its business portfolio.

Following the termination of the operating contract on 10 September 2018, Renewi will today enter into a new transitional contract for the next two months. Under this transitional contract, Renewi will continue to provide all services as normal, working closely with D&G Council to prepare for a seamless transition.

After this transitional contract expires on 10 November 2018, Renewi will transfer the relevant services, facilities and employees back to D&G Council.