Brambles Industries PLC
27 March 2003
Sale of Repair and Maintenance Business by Cleanaway
Cleanaway, a leading waste management company within the Brambles Group, has
sold the Repair and Maintenance Business ('the R&M Business') of its UK
subsidiary, Serviceteam Limited to AWG Facilities Services Limited, part of AWG
Plc group. An initial consideration of approximately £7.6 million (A$20.0
million) is payable in cash on completion and is subject to adjustment to
reflect the level of working capital as at completion. Potential further
payments of up to £2.5 million (A$6.6 million) in aggregate may be received by
Cleanaway, reflecting the performance of the R&M Business in the period to 30
The R&M Business was acquired by Cleanaway in January 2001 as part of its
acquisition of Serviceteam Limited. The disposal will enable Cleanaway to
continue its strategic focus on recycling and total waste management, offering
total integrated waste management solutions to both commercial and municipal
customers. The sale will not have a material effect on the Group's earnings.
For further information, contact:
Investor Sue Scholes, Head of Investor Relations +44 (0) 20 7659 6012
Media Richard Mountain, Financial Dynamics +44 (0) 20 7269 7291
Investor John Hobson, Head of Investor Relations +61 (0) 414 239 188
Media Jeannette McLoughlin, Group General Manager, +61 (0) 2 9256 5255
Corporate Communications Mobile +61 (0) 401 990 425
Brambles Industries is globally headquartered in Australia
Notes to editors
Brambles is a leading global support services provider with operations in 40
countries across Europe, the Americas and Asia Pacific. With full year 2002
turnover of approximately £3 billion, operating profit of more than £400 million
and assets of £3.7 billion, it employs some 31,000 personnel worldwide. Its key
global businesses are CHEP, CLEANAWAY and RECALL.
• CHEP is the world's pioneer and leader in the provision of pallet pooling
services. CHEP pallets facilitate the efficient operation of supply chains
for most of the developed world's leading international FMCG (Fast Moving
Consumer Goods) companies. These companies require the fast availability
of high quality pallets and other types of standard loading equipment and
transit packaging wherever they operate. CHEP meets this need through its
global reach and scale, combined with its proven logistics and supply chain
management capability and its established pallet pools and infrastructure
in more than 30 countries.
• CLEANAWAY is a leader in the collection, sorting, recycling, transfer and
disposal of waste, particularly in UK, Germany and Australia. Through
Cleanaway Germany, it is one of the largest paper recycling and trading
businesses in Europe.
• RECALL is a global business managing physical and digital documents through
their entire life cycle.
It also has a number of other global and regional businesses, such as Industrial
Services, Meineke Car Care Centers and Interlake Material Handling.
The combined group was formed in August 2001, when Brambles Industries plc,
previously the support services activities of GKN plc, was listed in London and
then combined in a Dual Listed Company structure with Brambles Industries
Limited of Australia. The two companies were previously joint venture partners.
This information is provided by RNS
The company news service from the London Stock Exchange