Bærum municipality rejects that they replace RenoNorden

RenoNorden Garbage, BærumCEO Harald Rafdal and Country Manager Ingrid T. Tjøsvold. Photo RenoNorden

Bærum municipality rejects that they intend to replace RenoNorden

Crisis stricken RenoNorden has reported that customer Bærum municipality has announced tender to find someone else to handle the garbage collection in the municipality. Not correct, according to the municipality.

 

RenoNorden, according to Dagens Næringsliv, took over waste management in Bærum as of April fools day this year. This is, however, one of many unprofitable contracts the company is struggling with. When RenoNorden announced that the Bærum municipality has announced a tender to find a replacement for them, the stock value increased for the first time in a long while.  Bærum on their part reject that they have initiated a tender and refers to it as a “mini-competition for renovation services – with reservations”.

– The reservations are linked to whether RenoNorden goes bankrupt or that this situation persists, says Lisa Bang. She is Communications Manager in the Bærum Municipality, who states there were many assumptions in the stock exchange announcement.

RenoNorden Stock bounced back

Communications Director in RenoNorden, Erik Riste, writes to the newspaper that Bærum municipality has in fact announced a mini-tender competition.

RenoNorden’s share has fallen 83.5 percent in the last three months, but when the stock exchange closed Friday it was up 10 percent after the news that the unsound contract with Bærum municipality could possibly be cancelled. RenoNorden also states in the stock exchange announcement that “all or some of the Norwegian customers in the same situation have been invited to discussions can do similar actions”.

 

© NTB Scanpix / Norway Today

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