Further Disposals Made for £28m

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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