Remondis Group, one of the world's largest recycling, service and water companies, completed the acquisition of Reym industrial cleaning business from Renewi, a European waste management company operating in Europe and North America, for £57m ($70m). "We are pleased to announce the successful sale of Reym. Together with the previously announced sale of Renewi's Canadian business, the sale of Reym will simplify the Group, strengthen its balance sheet and sharpen the focus on core Benelux recycling operations. We have agreed long-term contracts to ensure continued customer service and waste inflows to ATM. This disposal, combined with the previously announced sale of our Canadian business, will result in total cash proceeds of up to €115m ($127m)," Otto de Bont, Renewi Chief Executive Officer.