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The latest announcement is out from Symal Group Limited ( (AU:SYL) ).
Symal Group Limited has announced the acquisition of Ascot Bin Hire, a construction and demolition waste management business in Melbourne, as part of its strategy to expand its recycling and repurposing capabilities through its subsidiary, Sycle. This acquisition, valued at approximately $12 million, is expected to enhance operational efficiencies, increase Sycle’s skip bin fleet, and be earnings per share accretive within the first year. The move aligns with Symal’s growth strategy and commitment to sustainability, positioning the company as a leader in the waste management and recycling industry.
More about Symal Group Limited
Symal Group Limited is a Melbourne-based company specializing in civil infrastructure. It offers a comprehensive range of services, including contracting, plant and equipment hire, material sales and recycling, and remediation services. The company operates through a vertically integrated project delivery model across its four main brands: Symal, Sycle, Unyte, and Wamarra. Founded in 2001, Symal is listed on the Australian Securities Exchange (ASX: SYL).
YTD Price Performance: -11.18%
Average Trading Volume: 133,809
Current Market Cap: A$356.6M
Learn more about SYL stock on TipRanks’ Stock Analysis page.