We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Upbound Group Inc | TG:RAC | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 29.20 | 29.20 | 29.40 | 0.00 | 06:32:02 |
RNS Number:5433J RAC PLC 02 April 2003 2 April 2003 For immediate release British Airways teams up with RAC plc RAC plc, the motoring and vehicle solutions company, announces that Lex Transfleet Limited (its 50% joint venture with Lombard North Central PLC) has signed a 10 year fleet management contract with British Airways for its Ground Fleet Services, with lifetime revenue of approximately #230 million. The contract, which commenced on 1 April 2003, is for Lex Transfleet to manage British Airways' 6,300 strong fleet of vehicles and specialist equipment, including aircraft tugs, baggage trailers and crew buses and passenger coaches. An important differentiator in winning the contract was RAC's total vehicle solutions capability, including parts supply, which will be provided by Lex Transfleet's sister company, Lex Auto Logistics. Fleet management, based on systems and expertise, is a strong growth area for Lex Transfleet. This contract increases the company's fleet under management to over 40,000 vehicles and strengthens its presence in the airside sector. Services to British Airways will be provided from seven sites across Heathrow, Gatwick, Manchester and Birmingham airports, by 350 experienced employees who are transferring to Lex Transfleet from the previous incumbent. Andy Hobart, Managing Director, Lex Industrial Solutions, said: "This contract is another milestone in the delivery of RAC's business to business strategy and demonstrates our leading position in the outsourcing market for customers with large complex service-intensive fleets. It builds on our success with other major customers such as the Ministry of Defence Whitefleet contract. We believe we can add value to British Airways and we look forward to building a mutually beneficial partnership with them." Kevin Stovey, Procurement Manager, Global Logistics, British Airways, added: "This contract is in line with our Future Size and Shape strategy to reduce our cost base and simplify our business. Through a rigorous tender process RAC emerged as the company that could best meet our needs taking into account commercial and operational factors." Ends For further information please contact: Niall Addison, Group Finance & Investor Relations 01628 843 820 Andy Hobart, Managing Director, Lex Industrial Solutions 01628 843 885 Anita Scott / Michael Webster, Brunswick 020 7404 5959 Notes to editors * Lex Transfleet is an award-winning provider of commercial vehicle fleet support services offering expert and impartial advice on fleet management, rental, contract hire, driver management solutions and workshop services. Lex Transfleet is a joint venture between RAC plc and Lombard North Central PLC. * Lex Auto Logistics provides purchasing, inventory management, warehousing and distribution of parts to support businesses' logistics requirements. This information is provided by RNS The company news service from the London Stock Exchange END CNTUUUCACUPWGGP
1 Year Upbound Chart |
1 Month Upbound Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions