averda acquires majority stake in TWM in Oman
averda, a leading regional environmental services company, has announced its investment in TWM (Technique Waste Management), a company that delivers first-class cleaning and waste collection services to Oman’s commercial, industrial, residential and public sectors. With this investment averda acquires a 70 per cent stake in TWM, with the remaining shares held by the respected original Omani shareholders.
The company also expressed its support for the government’s initiatives to turn Oman into an eco-friendly tourism hub, with the aim of attracting 12 million tourists per year to the Sultanate by 2020. As part of its GCC-wide expansion plan, averda is eyeing the growth in Oman’s tourism industry and the resulting opportunities for the company in terms of serving new and existing hotels, resorts, developments and commercial businesses.
Known as one of the ‘great ecological destinations’ in the region, Oman is steadily building its tourism industry and undertaking successful efforts to promote its sights and culture to attract visitors from across the globe. Anticipating increased demand for environmental services in the Sultanate as a result of tourism growth, averda’s investment in TWM is part of the company’s strategy to gain an entry point into new markets.
“In line with the Oman Government’s ambitious plan to achieve an almost fourfold increase in its current tourist count, we are committed to delivering our environmental solutions to Oman-based businesses operating in the hospitality and tourism industries,” says averda CEO Malek Sukkar. “Our most recent expansion effort, the investment in TWM, reiterates our high interest in this market and our commitment to establishing strong ties and long-term relationships within the Sultanate. We are looking forward to delivering our best technologies to Omani clients through our experienced team, using our established working practices and continuing our long-standing commitment to service integrity.”
The first step following the acquisition has been to introduce averda’s client-centric culture to TWM. “It is vital that all averda companies share the same vision,” Mr Sukkar continues. “So we are integrating averda's beliefs and policies within TWM’s operational structure. After this, we’ll be looking at expanding our geographical presence by building specialized waste handling centres across the country. This will avoid unnecessary waste transportation across districts and effectively reduce carbon emissions. We are also looking forward to playing a leading role in the evolution of waste management practices in Oman by extending our support to both public and private organizations.”
Taking on the role of TWM’s Managing Director, Paul Pitman is responsible for developing strategic and tactical plans to support TWM’s business goals and future growth of operations.
“TWM’s operations are centred on Muscat, but we also have resources deployed in Suwadi and Sohar serving major clients in these increasingly important areas. TWM is well positioned to respond to client needs across these three key locations,” says Mr Pitman, “and we look forward to the opportunity of bringing service excellence and recycling initiatives to these areas.”