History
The Company was established in 1974 as the Severn Trent Water Authority, one of the ten water authorities in England formed under the Water Act 1973, to supply fresh water and treat sewage for around 8 million people living in the Midlands of England and also certain regions of Wales. It took its name from the two major rivers in this area, the Severn and the Trent. It was privatised in 1989 and in 1991 it went on to acquire Biffa, a leading waste management business.
In October 2006 Biffa was demerged from the Severn Trent group and is now listed separately on the Stock Exchange. In January 2007 the American side of Severn Trent Laboratories was sold to HIG Capital. In September 2007 the company announced they would be closing their headquarters in the city of Birmingham and relocating to a custom built office complex in the centre of the city of Coventry in autumn 2010.
In the financial year ending 2011 investment was made to reduce leaks, achieving a 7% reduction to a record low level, and below the maximum leakage level specified under the Ofwat target for the company.
In January 2012, more than 200 employees moved into a new 29,000 square feet (2,700 m2) office building in Shrewsbury. A new item of spending, a Carbon Reduction Commitment of £5.9 million was paid in 2011-12.
Read more about this topic: Severn Trent
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