Recycling venture targets corporates

A new recycling and recovery division is being set by Waste Management for commercial customers.

The venture, Recycle NZ, will be launched early next year.

Managing director Kim Ellis said an increasing number of commercial customers wanted recycling and resource recovery as part of their waste collection service.

"This is partly driven by increasing disposal costs and partly by the quest for sustainable development," he said.

Recycle NZ would complement the company's bio-waste recovery business, Living Earth. General manager Dave Perkins will look after the new venture.

Perkins said that although Waste Management was already one of the largest recyclers of inorganic material in the country, it was not recognised as a recycling brand.

Recycle NZ would provide a one-stop recycling service for its large corporate customers, such as those in the manufacturing and construction industries.

It would work with Waste Management's solid waste collection service to recover and sort recyclable material such as glass, plastics and metals.

Waste Management shares rose to $6.13 yesterday before closing down 5c at $6.10, having ranged between $4.95 and $6.80 in the past year.

- additional reporting: NZPA