(Alliance News) - Hera Spa announced Thursday that its subsidiary Herambiente Servizi Industriali has signed a binding agreement to purchase 70 percent of Piacenza-based TRS Ecology, to which the business unit pertaining to TRS Ecology's multi-purpose special waste treatment platform located in Caorso (PC) has been contributed.

The Hera group, the note says, thus "strengthens" "its Italian leadership in the environment sector, particularly in the treatment of industrial waste."

With this new plant, when fully operational, Herambiente will treat more than 64,000 additional tons of industrial waste each year, contributing about EUR6 million to the Hera group's consolidated EBITDA growth, in addition to the value of the synergies from integration that are expected.

The acquisition of TRS Ecology, which has more than 70 workers and about 2,700 customers, will enable Hera Group to expand its presence in the Northwest, realizing important synergies with the multi-utility's industrial hubs already operating for some time in the provinces of Pisa, Ravenna and Vicenza.

The current ownership, in the person of sole director Claudio Dodici, will remain within the new corporate structure with important operational roles.

Hera's stock is up 1.4 percent at EUR3.00 per share.

By Chiara Bruschi, Alliance News reporter

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