Vibroplant PLC
26 April 2000
Vibroplant Plc ('Vibroplant' or the 'Company')
Sale of the powered access hire fleet
The Directors of Vibroplant announce the sale of the Company's powered access
hire fleet to Lavendon Group plc ('Lavendon') for a consideration of £3.76
million in cash.
The powered access hire fleet comprises self-propelled diesel and electric
scissor lifts, articulated and straight mast booms. The sale also includes
ancillary and spares stock and the assumption of operating lease liabilities
in respect of certain of the hire fleet assets.
The assets sold had a net book value of £4.18 million as at 31st March 2000.
During the year ended on that date, rental turnover of £1.3 million was
generated on these assets.
As indicated in the Interim Report for the six months ended 30th September
1999, the primary focus of the Company's growth strategy is concentrated on
the specialist rental activities. The sale of the powered access hire fleet
is consistent with that strategy and the proceeds from the sale will provide
further financial support for the development of these activities.
Enquiries :
Jeremy Pilkington, Chairman and Chief Executive
Neil Stothard, Group Finance Director
Vibroplant Plc
Telephone : 01423 533400
Steve Jacobs
Financial Dynamics
Telephone : 020 7831 3113
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