Vibroplant PLC
16 February 2001
Date: Embargoed until 7.00am, Friday 16 February 2001
Contacts: Jeremy Pilkington, Chairman & Chief Executive
Vibroplant plc Tel: 01423 533400
Peter Otero
Financial Dynamics Tel: 020 7831 3113
VIBROPLANT PLC
('VIBROPLANT' OR THE 'GROUP')
PROPOSED CHANGE OF NAME, ACQUISITION OF FOUR SMALL TOOL BUSINESSES AND
REBRANDING OF TOOL HIRE INTERESTS
Vibroplant, the specialist equipment hirer, today announced a proposed change
to the Group's name, the strengthening of its tool hire interests by the
acquisition of four tool businesses and the rebranding of its overall tool
hire operations.
The Board intends to seek shareholder's approval to change the name of the
Group to Vp Plc in order to reflect the Group's primary focus on the
specialist rental sector.
In addition, the Group has recently completed the acquisition of four small
tool businesses. The Group's presence in London has been strengthened with the
acquisition of the business and assets of Barham Plant Hire Limited in
Wembley. The South West region has expanded into Bath with the acquisition of
the business and assets of Roy Francis Plant Hire Limited.
The acquisition of the entire issued share capital of Halls Hire Centres
Limited with two branches in Derbyshire links the North West, Yorkshire and
Midlands regions and the acquisition of the business and assets of Weaver Hire
in Runcorn has further improved the coverage of the North West.
Total consideration for the above transactions has been paid in cash but is
not material in the context of the Vibroplant group.
To reflect the recent integration of these businesses, which takes the Group's
national tool hire network to 80 branches, the six existing regional
businesses have been rebranded with a single national identity, namely Hire
Station.
Jeremy Pilkington, Chairman & Chief Executive, comments :
'The Board believes that the proposed change of name to Vp Plc better reflects
the focus of the Group on the specialist rental sectors where we command
strong market positions. In addition, the adoption of the Hire Station brand
for our tool hire businesses represents the speed of response, quality of
service and universal availability to the customer. We believe that everybody
should have access to a local Hire Station.'
- ENDS -
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