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The Monostreams Division was created when the merger of Shanks and Van Gansewinkel completed in February 2017. The division comprises four businesses: Coolrec, Minerals, Orgaworld and Maltha.

These businesses produce materials from waste streams in specific end markets such as glass, electrical and electronic equipment, organics and minerals. Our resulting products are used in markets such as food and beverage packaging, electrical and electronics, healthcare, energy, soil fertiliser, and building and construction in Europe.

Coolrec is a recycler of electrical and electronic equipment, including segregating plastics and both ferrous and non-ferrous materials. It has eight sites across Belgium, Netherlands, Germany and France with the majority of customers on long-term supplier contracts. Coolrec has innovative partnerships with OEMs like Philips and Miele to bring used products back into the value chain and has introduced dynamic pricing to mitigate raw material price volatility.

The Minerals business provides unique landfill services to manage specialist waste streams such as NORM waste. We are expanding the Minerals business further to create building materials from bottom ash (the ash left over after incineration of waste) and have partnerships with producers of building materials to turn cleaned materials into products like concrete tiles.

The Orgaworld business has transferred from the Netherlands Commercial Division. Orgaworld is an innovative leader in organic waste treatment and is a producer of green electricity and soil enhancing materials. It had five facilities in the Netherlands, primarily based on composting and anaerobic digestion technology.

Maltha is a glass recycling specialist, focused primarily on recycling flat and container glass into “cullet” and glass powder for reuse in the glass industry. 33% of the Maltha group is owned by Owens-Illinois, a world leader in packaging glass. Maltha has sites in the Netherlands, Belgium, France, Portugal and Hungary.


Each of our distinct end markets in the Monostream Division has its own market drivers, making it a diverse division.

The Coolrec business processes end-of-life electrical and electronic goods. Input volumes have been relatively stable over the past years and the business can benefit from changes in environmental legislation and incentive schemes to drive additional recycling, and also from technology changes which affect the content of inbound used materials. The business is highly exposed to the value of the materials that it recycles, particularly non-ferrous metals, many of which are at historic lows in the cycle and which may recover with time.

The Minerals business partially generates revenues from specialist materials requiring landfill. These materials have few other disposal options and so input volumes are secure, so long as there is landfill capacity and permits in place. The building materials from the bottom ashes business has good growth prospects as many bottom ashes from incinerators are not yet being recycled. Indeed, the Dutch government has signed a green deal with the sector to recover 50% of bottom ashes in 2017 and 100% in 2020.

Inbound volumes in Orgaworld are relatively mature and are secured on longterm contracts, many of which have been recently renewed. Legislation changes have caused us to stop processing used nappies. Capacity has been replaced by a new input of sludges, which has helped to improve profitability. Capacity changes in the food waste treatment market have seen input pricing improve for the sourcing of food waste, to the benefit of the Orgaworld Amsterdam (Greenmills) anaerobic digestion facility.

Our Maltha glass recycling business sources waste flat and container glass across Europe. Supply has been stable, although pricing has been under pressure. The cullet and powders produced are sold to leading glass manufacturers, including our joint venture partner Owens-Illinois, where demand is currently relatively strong for high purity products.

Technologies and Products