Veolia Targets Food-Processing Industry to Revive Profitability
Veolia Environnement SA (VIE) wants to almost double sales from the food processing industry within the next few years as part of an effort by Europe’s biggest water utility to boost contracts with industry.
Veolia is targeting revenue of about 1 billion euros ($1.36 billion) within three years compared with 650 million euros in 2012 from makers of everything from beer, spirits and soft drinks to chocolate bars, the Paris-based utility said today in a presentation to the press.
Veolia, which is nearly two years into a plan to lower debt and raise profitability, has announced a series of initiatives this year to take the utility into new businesses like nuclear dismantling and treating water from shale-energy drilling. The utility wants to focus more heavily on emerging markets and orders from industry rather than municipal waste and water contracts in Europe.
Veolia has contracts to treat water at a Mars factory in the Netherlands as well as for a salad and vegetable supplier and a spirits installation in the U.K., Veolia said. Its clients include Coca-Cola Co., Danone and Diageo Plc (DGE) to treat waste and water as well as boost energy efficiency at manufacturing sites.
To contact the reporter on this story: Tara Patel in Paris at email@example.com