PARIS (Reuters) - Brexit could have a positive effect on the UK business of French utility Suez (SEVI.PA) as it could benefit Suez’s waste management activities in Britain, a leading Suez executive said on Thursday.
Jean-Marc Boursier, joint chief executive for Suez’s European recycling and recovery business, said Britain would look to handle more of its waste management within the UK post-Brexit, which could boost Suez’s business in that area.
“We are convinced it should lead to more opportunities for Suez in the years to come, which should allow us to continue to increase our footprint in the UK, and we will look to build some fine factories in the coming years,” Boursier told Reuters.
Prime Minister Theresa May formally began Britain’s divorce from the European Union on Wednesday, declaring there was no turning back and ushering in a tortuous exit process that will test the bloc’s cohesion and pitch her country into the unknown.
“Speaking as a citizen who is committed to this continent, I regret their decision, but speaking as a Suez manager, it will no doubt have a positive impact on our business in Great Britain,” added Boursier.
Earlier this month, Suez sealed a 3.2 billion euro (2.77 billion pounds) acquisition of GE Water from General Electric (GE.N), in a deal which the company hopes will help to offset pressure on its margins in Europe.
Reporting by Benjamin Mallet; Writing by Sudip Kar-Gupta; Editing by Adrian Croft