Pennon Group

Infobox Company
company_name = Pennon Group plc
company_
company_type = Public (lse|PNN)
foundation = 1989
location = Exeter, UK
key_people = Ken Harvey, (Chairman)
Colin Drummond, (CEO)
industry = Water and waste
products =
revenue = £875.0 million (2008)
operating_income = £236.8 million (2008)
net_income = £133.6 million (2008)
num_employees =
parent =
subsid =
homepage = [http://www.pennon-group.co.uk www.pennon-group.co.uk]
footnotes =

Pennon Group plc (lse|PNN) is a British water utility and waste management company based in Exeter, Devon. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The Company was founded in 1989 as "South West Water plc" at the time of the privatisation of the Water Industry in England. [http://www.pennon-group.co.uk/pennongroup/aboutus/ghistory.jsp?t=2&s=3 Pennon Group: History] ] In 1993 it acquired "Haul Waste" and in 1995 it bought "Blue Circle Waste Management". It changed its name to "Pennon Group plc" in 1998.

The Company successfully saw off a takeover bid from Terra Firma in 2004. [ [http://www.independent.co.uk/news/business/news/terra-firma-gives-up-in-battle-for-british-waste-564338.html Terra Firma gives up in battle for British waste] ]

It acquired "Thames Waste Management" [ [http://www.letsrecycle.org/do/ecco.py/view_item?listid=37&listcatid=264&listitemid=5171 Viridor buys Thames Waste and expands landfill capacity] ] in 2004, "Wyvern Waste" [ [http://www.reuters.com/finance/stocks/keyDevelopments?symbol=PNNEUR.DEp&pn=4 Pennon Group announces the acquisition of Wyvern Waste Services] ] in 2006, "Grosvenor Waste Management" [ [http://www.letsrecycle.com/do/ecco.py/view_item?listid=37&listcatid=217&listitemid=9483 Viridor buys Grosvenor Waste Management for £81m] ] and "Skipaway Holdings" [ [http://www.advfn.com/lse/ShareNews.asp?sharenews=PNN&article=19373358&headline=pennon-groups-viridor-acquires-uk-waste-management-company-for-14-7-mln Pennon Group's Viridor acquires UK waste management company for £14.7m] ] in 2007 and "Shore Recycling" [ [http://news.bbc.co.uk/1/hi/england/devon/7312400.stm Pennon buys recycle firm for £23m] ] in 2008.

Operations

The Company's main asset is South West Water Limited, which supplies water and sewerage services in Devon, Cornwall, and parts of Dorset and Somerset. [ [http://www.pennon-group.co.uk/pennongroup/corebusiness/?t=3&s=10 Pennon Group: South West Water] ] It also owns Viridor, a waste management business. [ [http://www.pennon-group.co.uk/pennongroup/corebusiness/viridor.jsp?t=3&s=11 Pennon Group: Viridor] ]

References

External links

* [http://www.pennon-group.co.uk/ Official site]
* [http://uk.finance.yahoo.com/q/pr?s=PNN.L Yahoo profile]