ASCO to divest non-core waste services - focuses on offshore oil and gas sectorCompany News // October 28, 2015
Oilfield support services company ASCO has announced its decision to divest the majority of the company’s non oil and gas-related waste services following a strategic review of its portfolio. The bulk of these services operate from Enviroco’s Sheffield facility.
On 27 October 2015, Biffa Waste Services Ltd agreed to purchase ASCO’s waste management site in Sheffield. Employees affected by this sale (around 20 personnel) will transfer to Biffa’s employment under the Transfer of Undertakings (Protection of Employment) regulations.
This move reinforces ASCO’s ongoing commitment to its oil and gas business.
CEO Alan Brown said: "We have been very open about the fact ASCO’s core focus exists within the oil and gas industry. In line with this strategy, it makes sense for us to streamline our business to reflect our intentions. We are proud of the successful growth our waste business achieved in the non-oil and gas market, however the time has come for us to move our emphasis elsewhere."