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Nuplex expands waste business

By Phil Boeyen, ShareChat Business News Editor

Wednesday 6th December 2000

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Nuplex Industries (NZSE: NPX) has agreed to buy a medical and quarantine waste company in Australia for just under A$21 million.

Medihold International 3 is an Australian private company engaged in the collection, treatment and disposal of medical and quarantine waste, and operates plants in Melbourne and Sydney, with a presence in Brisbane and Perth.

Nuplex will pay A$20.95 million comprising A$18.7 million cash and the rest in Nuplex shares.

The company says the acquisition is in line with its growth strategy to grow core businesses in Australasia to provide a strong base for growth into Asia.

Included in the new acquisition is a joint venture with Medihold's vendor, Dan Daniels, to supply and process reusable "sharps" containers throughout Australia.

Nuplex says the reusable sharps containers and recycling process are based on leading edge technology developed by its joint venture partner and provides a more environmentally friendly process for the safe handling of infected medical and surgical instruments.

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