Rentokil Initial PLC
26 June 2000
RENTOKIL INITIAL MAKES FURTHER DISPOSALS FOR £28 MILLION
Rentokil Initial announces that, as part of its programme
of disposing of non-core businesses, it is selling its
aerial platform plant hire business and its UK based
timber preserving business for £28m paid in cash.
The PTP Aerial Platform business is being sold to Loxam,
a French company, for £23.8m. In 1999 the business had
turnover of £18.2m and operating profit of £3.5m.
The UK timber preserving business is being sold to
Osmose, a US company, for £4.2m. In 1999 this business
had turnover of £8.4m and operating profit of £0.5m.
Sir Clive Thompson, the Chief Executive of Rentokil
Initial, commented that:
'These sales represent a further important step in the
disposal programme for our non-core businesses and bring
proceeds to date to £516 million, well in line with our
target of proceeds of at least £600m.'
Press enquiries:
Sir Clive Thompson, Chief Executive
C T Pearce, Finance Director
01342 833022
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