Rentokil Initial PLC
20 April 2007
20 April 2007
RENTOKIL INITIAL CREATES PEST CONTROL LEADERSHIP
POSITION IN CHINA IN RESIDENTIAL SECTOR
Rentokil Initial plc (RTO), one of the world's leading providers of business
support services, today announces that it has reached agreement with Beijing
Taiming Technology Ltd to purchase 65% of its pest control business in China for
a maximum consideration of RMB 130 million (£8.38m*) based on strict performance
criteria. The company will be renamed Rentokil Taiming.
Beijing Taiming is the leading pest control operation in China and owns various
patents in fumigation technology.
The company was established in September 1998. It has developed and patented a
range of fumigators for indoor insect control. It also has a range of
proprietary formulated insecticidal products. The service deals comprehensively
with all common urban pest problems both in residential and commercial
environments, reducing the risk of spreading vector diseases. In particular, the
fumigator kills 100% of mosquitoes in indoor environments within minutes.
David Liu, Regional Managing Director - Asia Pacific of Rentokil Initial, said:
'We are delighted to announce that after two years of building our foundation in
China, we can now serve both residential and commercial sectors delivering pest
control service and products to the market. Our new partner has already
registered patents in China, Canada, South Africa and the United States for the
most innovative pest control application technology that provides Chinese
consumers a cleaner and healthier environment. This new joint venture will
transform our business in China.'
* Conversion rate based on RMB15.5 to £1.
- Ends -
About Rentokil Initial
Rentokil Initial is one of the largest business services companies in the world,
operating in all the major economies of Europe, North America, Asia Pacific and
Africa. The company has some 70,000 employees providing a range of support
services in over 40 countries where the 'Rentokil' and 'Initial' brands have
come to represent innovation, deep expertise and consistent quality of service.
Services include textiles and washroom services, pest control, tropical plants,
parcels delivery and facilities services.
Enquiries
Rentokil Initial plc
Malcolm Padley, Head of Corporate Communications, 07788 978 199
Lisa Williams, Head of Investor Relations, 020 7866 3028
Brunswick Group
John Sunnucks, Kate Holgate, 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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