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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.20 | -0.66% | 30.20 | 30.00 | 30.60 | 0.00 | 22:50:18 |
RNS Number:3736T RAC PLC 17 December 2003 17 December 2003 For immediate release RAC plc wins preferred bidder status for #500m MoD project RAC plc, the motoring and vehicle services company, announces that the Amey Lex Consortium (ALC), a partnership between Amey plc, the support services specialist, and Lex Defence Ltd, RAC plc's defence fleet management and logistics subsidiary, has been selected as preferred bidder for the Ministry of Defence C Vehicle Capability Private Finance Initiative (PFI) programme. The programme revenue is projected to be worth in excess of #500 million over the 15 year contract period. The C Vehicle programme will provide all construction vehicles, plant and equipment that is typically used by the military for engineering projects and equipment/material handling to the British Armed Forces. This group of vehicles include cranes, excavators, bulldozers, and mechanical handling equipment, such as forklift trucks. The Consortium will deliver an innovative service, rather than a procurement based solution, building on the extensive service and support experience of both partners. ALC will rationalise the MoD's C Vehicle Fleet from over 3,500 to a size of approximately 2,500 vehicles. ALC will then maintain and manage the fleet and provide associated services, including spares support and inventory management, a comprehensive management information system, equipment documentation and training for operators and instructors. The service is to be provided mainly to the British Army, including units supporting the Royal Air Force and the Royal Marines, on a worldwide basis. Peter Harris, Group Managing Director, responsible for Lex Defence, stated: "We are extremely pleased to have the opportunity to further build on our growing partnership with the MoD. Our success with Amey in this consortium reflects the synergy of our service offerings and our ability to provide significant operational capability for the benefit of our MoD customers." Mel Ewell, Chief Executive Officer of Amey, said: "We are delighted that the MoD has selected us as the Preferred Bidder for this ground breaking fleet contract. This reflects on the strength and innovation of the services offered in partnership with Lex Defence, as well as the calibre of our professional team and their understanding of the MoD's objectives." Lord Bach, Minister for Defence Procurement commented "The C Vehicle bid is the largest PFI bid involving front line operational land capability for the British Armed Forces. In order to ensure best value for money for tax payers, we placed this contract open to competition. ALC, building on the existing strong arrangements with Amey and Lex Defence, was able to offer a superior solution that met our requirements in a cost effective way." Ends For further information please contact: Peter Harris, Group Managing Director, Manufacturer Support Services, RAC plc Tel: 01628 843739 Niall Addison, Group Finance and Investor Relations Manager, RAC plc Tel:07764 624701 Notes to Editors: Lex Defence, part of RAC plc, provides a unique range of skills and services to support the vehicle fleet and logistic requirements of the British Armed Forces around the world. Lex Defence is currently responsible for more than #1 billion worth of MoD contracts, managing some 14,000 vehicles on behalf of the MoD, and is one of the largest suppliers of vehicles and fleet management services to the UK defence market. Combining a wide range of commercial disciplines into a single platform, Lex Defence brings together a wealth of specialised skills and expertise from the RAC plc group of companies. Whether the customer needs parts for the Challenger 2 Tank, Commercial Off The Shelf (COTS) fleet systems, or wide ranging vehicle fleet provision and through-life support, Lex Defence can deliver. Amey is a provider of integrated business support services to the public and private sector and is working closely with central and local government to deliver strategic education, health, transport and defence projects. Services range from the management of large-scale transportation infrastructure to the delivery of professional and back office services. This information is provided by RNS The company news service from the London Stock Exchange END CNTGUGAWPUPWGPM
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