Clarkson PLC
16 June 2006
CLARKSON PLC
CLARKSONS AND GENCHEM
Clarkson PLC ('Clarksons'), the world's leading shipping services group, and
Genchem Holdings Limited ('Genchem') today announce that they are in advanced
discussions with a view to Clarksons acquiring Genchem. Genchem, which has
operations in London, Ipswich, Great Yarmouth, Bristol, Liverpool and
Southampton, is a privately owned shipping services provider. Genchem's
services comprise shipbroking, port agency, warehousing and stevedoring
employing 47 people.
Alex Geddes, Managing Director of Genchem commented: 'The services we provide
offer considerable scope for growth, particularly when we join forces with
Clarksons. I am delighted that my colleagues and I shall have the opportunity of
working in this exciting new environment which will enable us to offer more
comprehensive services to our combined global shipping clients.'
Richard Fulford-Smith, CEO of Clarksons said: 'Following our acquisition of
Plowrights and the additional skill sets that they have brought to us, we
recognise that this specialised sector sits comfortably in a transparent public
company environment. Outsourcing business in the style of our specialised
product team requires quality personnel and Genchem's people fit the bill
perfectly. Acquiring Genchem will also enhance our opportunities to add global
growth to this specialised area of our business, including in our other key
centres of Houston, Singapore and Dubai.'
It is anticipated that the effective date of the acquisition will be 1 July
2006. However, the transaction is subject to due diligence, which is underway,
and final contract. In accordance with the UK Listing Authority Rules, further
details of this Class 2 transaction will be provided upon completion.
For further information:
Richard Fulford-Smith Clarkson PLC
Telephone: +44 20 7334 3139
Alex Geddes Genchem Holdings Limited
Telephone: +44 20 7776 4680
Notes to editors
Background to Clarkson PLC
Clarkson PLC (which is listed on the London Stock Exchange) is acknowledged as
the world's leading shipping services group. Through its unrivalled and
extensive global network of offices it is able to give its clients unique access
to a wide range of shipping services. Clarksons covers shipbroking, research,
publications, derivatives and logistics. Clarksons' strategy is to expand and
develop the group around these key activities.
For further information on Clarkson PLC, please visit the company's website at
www.clarksons.com
This information is provided by RNS
The company news service from the London Stock Exchange
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