Brambles Industries PLC
18 October 2006
Brambles Industries plc
Company Number: 4134697
18 October 2006
BRAMBLES AGREES TO SELL CLEANAWAY ASIA
Brambles has agreed to sell part of its Cleanaway Asia business, comprising the
landfill gas to energy business in China and Taiwan and the recovered paper
business, to Veolia Environmental Service China Limited, a part of the Veolia
Group, for a purchase price of approximately US$25 million in cash.
Veolia is a leading player in environmental services. With more than 270,000
employees Veolia has operations all around the world and provides tailored
solutions to meet the needs of industrial and municipal customers in four
complementary segments: water management, waste management, energy management
and passenger transportation.
The sale is subject to customary conditions precedent and is expected to be
completed during the first quarter of 2007.
Brambles has also agreed to sell the remaining part of its Cleanaway Asia
business, being its 50% share in Taiwan landfills, to its joint venture partner,
Kang Lien Enterprise Company Limited, for a total cash consideration of
approximately US$15 million. This sale is subject to customary conditions
precedent and is expected to complete during November 2006.
The sale of Cleanaway Asia concludes the divestment programme that Brambles
announced in November 2005.
For further information please contact:
Investor John Hobson, Head of Investor Relations +61 (0)2 9256 5216
+61 (0)407 436 711
Media Michael Sharp, Vice President Corporate +61 (0)2 9256 5255
+61 (0)439 470 145
Investor Sue Scholes, Head of Investor Relations +44 (0)20 7659 6012
Media Richard Mountain, Financial Dynamics +44 (0)20 7269 7291
Brambles is globally headquartered in Australia
This information is provided by RNS
The company news service from the London Stock Exchange