Waste Recycling Group Ltd (WRG) is the principal operating company of the WRG Group. It heads up a group of approximately 47 subsidiary undertakings. WRG is one of the leading waste management services and energy recovery companies in the UK.
It provides a range of cost-effective and environmentally-sustainable waste processing, recycling, disposal and energy recovery services for local authority and private commercial customers.
The Board of Directors of WRG is responsible for the strategic and operational management of the WRG Group. The following individuals served as Directors of the Company during the year ended 31 December 2008:
T Nunez Vega (Chairman)
J R Meredith (Chief Executive)
L J D Cassells
J L de la Torre Sanchez
F F Fernàndez de Córdova
E Koplowitz Romero de Juseu
E A Koplowitz
J C Masana
R Peugeot
The Board has a number of scheduled meetings each year and reviews operational and financial performance of the WRG Group. The ultimate parent of WRG and its subsidiaries is Fomento de Construcciones y Contratas, S.A. (FCC), a company incorporated in Spain and listed on the Spanish Stock Exchange. FCC is a significant multi-national business with operations in Europe, South America and the United States of America. Its principal activities cover Environmental Services (including waste), Non-Environmental Services, Construction, Cement, Renewable Energy and Real Estate. To enable the management of the WRG Group, a defined set of delegated authorities has been established by FCC. The delegated authorities set clear approval limits for expenditure both within and outside of budget, and the appropriate officer, committee or board with authority to approve that expenditure.
Considerable effort continues to be directed towards ensuring that WRG retains close and effective control of the activities of its landfill gas contractors in order to satisfy our obligations for environmental control under our operating permits.
The WRG Group is divided into the following divisions:
North Division – responsible for all of WRG’s landfill, transfer, household waste recycling, composting and recycling operations in the North of England, East Midlands, North Wales and Scotland; for the Waste Treatment Division, which treats hazardous solid and liquid wastes, Alco, a collection, treatment and healthcare waste collection business and WRG’s recently acquired waste collection and treatment business, both based in Cumbria.
South Division – responsible for all of WRG’s landfill, transfer, household waste recycling, composting and recycling operations in East Anglia, the South East, Lincolnshire, the West Midlands and South Wales and for the servicing of recycling banks in the East of England.
The Green Energy+ Division – manages Energy from Waste (EfW) plants at Eastcroft in Nottingham (producing steam) and at Allington in Kent (producing electricity for export). The division also seeks to develop new opportunities in EfW in support of the Group’s strategy for PFI infrastructure contracts.
Quarries Division – operates several quarries in Yorkshire.
Investment and management of the PFI/PPP bidding process is undertaken by WRG PFI Holdings Limited, a sister company of WRG. The sister company also acts as the Holding Company for the Special Purpose Vehicles used as funding entities for these non-recourse finance projects.
To assist the Board of WRG to run the WRG Group, the following principal committees have been established:
Executive Committee – is a committee of the Chief Executive, comprising senior executives responsible for the operations of the WRG Group. It meets on a monthly basis to review operational, financial, environmental and health and safety performance and assess strategic opportunities.
MID Executive Committee – is a committee of the Chief Executive and also meets on a monthly basis. It comprises senior executives of the WRG Group and focuses on the delivery of the Group’s PFI, PPP and large capital bids for the local authority market.
Approvals Committee – is a committee of the Chief Executive and meets on a fortnightly basis for consideration and approval of expenditure and business cases in accordance with the delegated authorities given by the shareholder. Any expenditure or business case that is above the authorised level for consideration by the Approvals Committee is referred to the shareholder through the Board of Directors of WRG.
Project Review Committee (PRC) – a committee of the Chief Executive, replacing the former MID Executive Committee. It meets at least every fortnight for consideration and approval to enter into PFI, PPP and/or commercial and development projects, as well as requests to submit project tenders and project budgets.
Risk Committee – The Risk Committee is a committee of the Board of WRG. It is responsible for: (1) the development and implementation of WRG’s risk policy throughout the WRG business (including associated PFI special purpose vehicles), in order to preserve and enhance shareholder value; (2) the oversight of risk management throughout the WRG business; and (3) ensuring that WRG’s risk policy is consistent with the expectations of the shareholder, regulators and other key stakeholders.
The Risk Committee has formal terms of reference and meets at least twice each year. The outcomes of the Risk Committee’s meeting are reported to the Board of WRG.
