A significant financial burden of 234 million Danish kroner (approximately 33 million USD) has hit SDK Freja due to a landslide at Nordic Waste in Ølst, near Randers. The extraordinary costs were necessary to halt the landslide, secure the area, and address related legal issues, as detailed in the company’s latest annual report. A total of 51 million kroner has been spent on containing the landslide, with an additional 15 million kroner allocated for legal assistance.

The extensive landslide significantly impacted the company’s asset valuation, leading to a write-down of 180 million kroner. Despite these substantial losses, SDK Freja managed to achieve a modest profit of 508,000 kroner in the most recent financial year, a dramatic decline from the previous year’s profit of 225 million kroner.

The landslide occurred in December 2023, when six million tons of soil began to shift. Nordic Waste quickly vacated the site, prompting Randers Municipality to intervene to prevent potentially contaminated soil from entering nearby watercourses, which could have resulted in an environmental disaster.

In January, Nordic Waste was declared bankrupt, and in June, Randers Municipality identified its sister company, DSH Recycling, as being responsible for both the landslide and its environmental consequences. However, DSH Recycling has disputed this decision and is suing the municipality to have the ruling overturned.

The Danish Agency for Governmental Legal Services (Kammeradvokaten) has also launched an investigation into whether other companies besides Nordic Waste may be held accountable for the environmental disaster. Preliminary findings suggest that both the Danish state and Randers Municipality may have grounds to file claims against DSH Recycling. The legal and financial repercussions of the landslide are expected to persist for some time.

Tags: #DanishNews #EnvironmentalImpact #Landslide #CorporateAccountability #Randers #SDKFreja #NordicWaste #DSHRecycling