Renault and Sita in car recycling link-up

Archiv – French car manufacturer Renault SA is setting up a car recycling initiative with Sita, which is part of the Suez Group. The 50/50 joint venture will take control of Indra Investissements, a privately-held French company with a network of 200 vehicle dismantling operations throughout the countryFrance | French car manufacturer Renault SA is setting up a car recycling initiative with Sita, which is part of the Suez Group. The 50/50 joint venture will take control of Indra Investissements, a privately-held French company with a network of 200 vehicle dismantling operations throughout the country.
Over a five-year period, Renault and Sita plan to invest Euro 100 million (US$ 148 million) in the venture. The companies will initially own 80% of Indra, rising to 100% at the end of the five years.
Company executives told a press conference that they wanted to cash in on the fast-growing market for end-of-life vehicle treatment – a sector whose potential has been enhanced by the steady price increases for raw materials such as plastics and steel.