Wiltshire housing groups intend to merge
The Aster Group and Synergy Housing have announced they intend to merge this year.
Negotiation strategies may be needed by two Wiltshire-based housing companies, as they are discussing the prospect of merging together.
Synergy Housing and the Aster Group believe this move would boost value for money for customers and tenants, while improving quality and enabling the organisations to build more dwellings.
Furthermore, annual savings of an estimated £8 million would be made for the first five years if the merger takes place, increasing the funding opportunities for the organisations and enhancing their joint borrowing capacity.
If the enterprises come together, they will become a "major provider of housing, care and support in the central, south and south-west" regions, Aster Group chief executive Bjorn Howard and Synergy chief executive Graeme Stanley remarked.
Together, the firms employ approximately 1,800 individuals and they intend to formally merge in autumn 2012.
"We'll try hard through this proposal to keep any potential redundancies to a minimum," a spokesman for Aster Group told the Wiltshire Gazette and Chronicle.
Posted by Edel Quinn
Source: Press reports, January 22nd