Bord na Móna has reached an agreement to sell Bord na Móna Recycling to KWD Recycling, subject to regulatory approval.
The company said that while the business will no longer be part of the Bord na Móna group, employees will continue to work for the recycling business with no change to their contractual terms and conditions of employment on handover.
Earlier this week, SIPTU members employed in Bord na Móna Recycling voted to conduct a ballot for strike action if plans to privatise the company go ahead.
SIPTU said it is totally opposed to the privatisation of the business.
“An emergency meeting of shop stewards will take place on Monday evening to discuss the latest development,” said SIPTU Divisional Organiser, Adrian Kane.
“SIPTU will now be seeking an urgent meeting with Minister Darragh O’Brien and meetings with the leaders of the Opposition,” Mr Kane said.
Bord na Móna Recycling provides waste collection services for homes and businesses across Leinster and north Munster.
“The transaction follows a strategic review conducted by Bord na Móna of its recycling business which concluded that a sale would enable the business to achieve the scale and efficiency required for sustained growth, profitability and employment,” the company said in a statement.
“Bord na Móna Recycling will continue to provide services as usual for its household and business customers pending regulatory approval of the transaction,” a spokesperson said.
The terms and value of the deal have not been disclosed.
