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Brambles Industries (BI.)

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Thursday 15 November, 2001

Brambles Industries


Brambles Industries PLC
15 November 2001


Brambles Industries has reached agreement to sell its European Rail Division,
Groupe CAIB, to VTG Lehnkering, a subsidiary of Hapag-Lloyd which is a
subsidiary of Preussag. The transaction is subject to the approval of the
relevant competition authorities.

Consideration for the transaction including debt transferred is expected to be
approximately Euro 363 million (A$640 M) and will be paid in cash on

In the year to June 30th 2001, Groupe CAIB reported revenue of Euro 236 M 
(A$422 M) and earnings before interest and tax of Euro 30.9 M (A$ 55.3 M). The
businesses within CAIB have workshop facilities in Germany, UK and France as
well as wagon hiring and forwarding services. They have some 880 employees.

Completion of the divestment of Groupe CAIB will be the sixth in Brambles
current divestment programme and will bring aggregate proceeds close to A$ 1
billion. The transaction represents a significant milestone in the realignment
of Brambles strategy towards its core businesses.

The process for the sale of the Equipment Rental businesses in the US,
Australia and Germany is underway. Under current economic conditions, their
divestment is not without challenges. Progress is therefore proving to be
slower than previously expected.

15 November 2001

For further information, contact:

Media              Richard Mountain, Financial Dynamics     +44 (0) 20 7831 3113
Investor and Other Sue Scholes, Head of Investor Relations  +44 (0)20 7659 6012

All Enquiries      Ron Burke
                   Group General Manager Corporate Affairs  +61 2 9256 5255