Wincanton announces the completion of the disposal of its German Road
activities, businesses in Central and Eastern Europe, and logistics operations
in the Netherlands
01 September 2011
Wincanton plc ("Wincanton" or the "Group"), the leading provider of supply chain
solutions, announces that the disposal of its German Road activities and
businesses in Central and Eastern Europe to the Raben group and the logistics
operations in The Netherlands to JCL Transport und Logistik GmbH, announced on
9 June 2011 have both completed.
The net proceeds of the disposals, approximately €30m pre transaction costs,
will be used to reduce the net debt levels of the Group. Â The disposals align to
the Group's strategy to exit from Mainland Europe and focus on developing its
leading position in the UK market.
The process of the disposal of Wincanton's remaining operations in Mainland
Europe to Rhenus AG & Co. KG, which was announced on 15 August 2011, continues
as planned.
Ends
For further information, please contact:
Wincanton plc 01249 710 000
Eric Born, Chief Executive
Jon Kempster, Group Finance Director
Holly Porter, Group Marketing and Communications Director
Buchanan Communications 020 7466 5000
Charles Ryland / Jeremy Garcia / Helen Chan
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wincanton Plc via Thomson Reuters ONE
[HUG#1543547]
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