Brambles Industries PLC
31 October 2002
BRAMBLES ANNOUNCES SALE OF BRAMBLES SHIPPING
Brambles Industries today announced that it has reached agreement for the sale
of Brambles Shipping, its Australian cargo shipping operation, to Toll Transport
Pty Ltd. The purchase price for the business of A$73 million will be paid in
cash. The value of the transaction to Brambles, comprising the purchase price
and the expected proceeds from trade receivables that will be retained by
Brambles, is A$87 million.
The business value compares to the net asset value of the business at 30 June,
2002, of approximately A$39 million. In the year to 30 June, 2002, the Brambles
Shipping business had sales of A$110 million.
The sale will be effective on 1 November 2002.
31 October, 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: 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
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