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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Birse Grp. | LSE:BIE | London | Ordinary Share | GB0001005684 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 14.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:8725J
Ashtead Group PLC
2 May 2000
ASHTEAD TO BECOME RENTAL EQUIPMENT SUPPLIER TO BIRSE
Ashtead Group plc - the leading UK and US equipment outsourcer - announced
today that it has won the contract to become the sole supplier of general
plant and related equipment to the nationwide construction activities of Birse
Group for the next 40 months. As part of this arrangement, Ashtead will
purchase the non-operated equipment rental divisions of Birse Group PLC for a
cash consideration of #1.65m (subject to completion of stock-take).
The acquired businesses hire plant to the industrial and construction sectors
and have assets with a net book value of #1.65 million. In the year to 30
April 1999, the businesses produced an EBITDA of #591,000 on sales of #2.0
million.
Commenting on the acquisition, Ashtead's Chairman Peter Lewis said:
"An important facet of this purchase is that we will become the sole supplier
of plant to Birse for the next 40 months. Such an agreement typifies the
longer-term partnering arrangements that we are seeking, and winning, with our
clients both in the UK and US".
Peter Lewis, Chairman
George Burnett, Chief Executive
Ashtead Group plc Tel: 01372 362300
Tim Spratt / Tania Wild
Financial Dynamics Tel: 020 7831 3113
END
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