Information  X 
Enter a valid email address

Brambles Industries (BI.)

  Print      Mail a friend

Friday 15 February, 2002

Brambles Industries

Brambles Disposal

Brambles Industries PLC
15 February 2002


Brambles Industries Limited has today agreed to sell North-Western Shipping and
Towage, its Tasmanian-based towage business, to a private investor.

The sale price for the business represents a significant premium over net assets
to Brambles. The net assets of North-Western Shipping and Towage are
approximately A$11.5 million. The sale, which is expected to be completed on 28
February 2002, will not have a material effect on the Group's earnings.

This sale marks the final stage in the withdrawal of Brambles' Marine Group from
harbour towage activities. The group began exiting towage in the mid-1990s, with
the sale of its Port Kembla (Wallace Tugs) and Sydney and Newcastle (J. Fenwick
& Co.) towage activities.

Brambles continues to pursue its marine activities through Brambles Shipping
(the major freight carrier between Tasmania and mainland Australia) and Jardine
Shipping which operates a Cairns-based coastal shipping service.

15 February 2002

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                                        +61 (0) 2 9256 5255
                        Group General Manager, Corporate Affairs
                        Edna Carew
                        Group Manager Communications                     +61 (0) 2 9256 5204

  The Brambles Industries Group is globally headquartered in Sydney, Australia.

                      This information is provided by RNS
            The company news service from the London Stock Exchange