A CANADIAN business has taken over a Newton firm in a deal that could be worth £9million.
Celtic Technologies, on Crow Lane East, is to be taken over by EnGlobe.
The company, which provides land remediation services on brownfield sites, has paid £7 million for the Newton firm. If the business achieves performance targets a further £2million could be given to Celtic Technologies shareholders.
EnGlobe provides land remediation services on contaminated brownfield sites and encourages recycling .
"We will now be better positioned, from both a geographic and technical perspective, to meet growing market demand across the UK where, for example, housing development is a national priority and much of the land available requires remediation," said Aline Bélanger, President of EnGlobe.
Barry Ellis, managing director of Celtic Technologies, added: "This represents a unique opportunity to join forces and position our combined company as the leader at a critical time when the market requires the reliable cost-effective land remediation solutions that we can provide."
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