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Level 24, 333 Collins Street, Victoria, Australia.
Phone: +61 3 8623 3333

KordaMentha appointed to Renex Industries

Rahul Goyal, Craig Shepard and Richard Tucker of KordaMentha Restructuring have been appointed Administrators of Renex Holdings (Dandenong) 1 Pty Limited, trading as Renex Industries and its subsidiaries (‘Renex’).

Renex operates Australia’s first permanently located integrated waste treatment and resource recovery facility. The facility treats contaminated soil and other prescribed industrial waste which would otherwise be abandoned or disposed in landfill.

 

Mr Goyal said the company would continue to trade the business as usual whilst the Administrators considered options to transition the business to a long-term operator.

 

“This facility is too important to walk away from because the technology is outstanding, it helps solve an important environmental problem and the underlying business is good,” Mr Goyal said.

 

He said that no contaminated soil should be disposed to landfill whilst treatment facilities like Renex were available. Prescribed, or hazardous, wastes are a major focus for various state governments, who are all focusing on alternate ways to deal with contaminated waste.

 

The Administrators are exploring options with various stakeholders and interested parties to help find a solution to the company’s current situation.

 

Renex employs approximately 20 people. They are being updated on developments while an assessment of the business continues and a strategy is formulated.


 
The first meeting of creditors has been scheduled for Wednesday 21 October 2015 in Melbourne.


 

 

 

 

 

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