Norish PLC
02 December 2005
Norish plc ('Norish' or the 'Company')
2 December 2005
Acquisition of Wrexham
Norish is pleased to announce the acquisition of the land and property of its
Wrexham facility from State Street Custodial Services (Jersey) Limited and
Stralo Limited for a total consideration, net of costs, of £5.5 million. The
Wrexham facility is a cold storage facility situated on circa 13 acres of land.
Norish has been leasing the Wrexham facility since September 1994 and the lease
was to expire in September 2019. The acquisition of the Wrexham facility will
result in rental savings of £378,500 per annum.
The purchase of Wrexham is being funded by a 15 year term loan from HSBC.
The acquisition of the Wrexham facility will further strengthen the ability of
Norish to develop its existing facilities and broaden the range of services
provided. It will increase the number of freehold sites operated by the group.
Enquiries:
Norish
Ted O'Neill, Executive Chairman Telephone: + 44 1322 303461
NCB
Liam Booth, Managing Director Telephone: + 353 1 611 5611
About Norish:
Norish is a third party multi-temperature warehousing and logistics business
providing services to importers, manufacturers, wholesalers, retailers and
distributors. Norish operates from seven sites and provides in excess of 80,000
racked pallet spaces, of which 50,000 are temperature controlled. All sites
offer storage (including bonded), handling, de-vanning, picking and packing,
cross-docking and distribution with freezing and other temperature controlled
services available from the cold stores.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.