Contract with the London Waste and Recycling Board

TIDMSTT

Straight PLC

09 June 2011

 
 Date:              9 June 2011 
 On behalf of:      Straight plc ("Straight" the "Company" or 
                     "the Group") 
 Embargoed until:   0700hrs 
 

Straight plc

Contract with the London Waste and Recycling Board

Straight plc, (AIM: STT), the environmental products and services group, is pleased to announce that it has been awarded a contract by the London Waste and Recycling Board (LWARB) to provide Steelybin(R) metal four-wheeled recycling containers as part of its Flats Recycling Programme.

The contract is the largest single order to date for the Steelybin(R) product and will be worth almost GBP0.25m. Straight will be delivering over 1,300 units to a number of London boroughs, and supply will commence in June. The Group is also providing more than 70,000 of its market-leading Kitchen Caddy for the collection of food waste.

Improvements to the recycling services of London flats and high rise properties have been outlined by the Mayor as a key priority in the Draft Municipal Waste Management Strategy. As a result of this, LWARB have created a GBP5m Flats Recycling Programme, with the aim of helping London boroughs overcome common barriers that affect recycling on flats and high rise properties.

Jonathan Straight, Chief Executive of Straight plc, said:

"The fact that Steelybin(R) has been selected is testament to the high quality of this product which is fully compliant with the EN840 standard. Having our Kitchen Caddy used too demonstrates the diversity of our range.

"We are very pleased to be working alongside the LWARB on the Flats Recycling Programme to address the problems associated with recycling in flats within the London boroughs. The programme is a significant step in encouraging all households to recycle, and we look forward to other councils across the UK following suit."

For further information: please contact:

 
 Straight plc 
 Jonathan Straight, Chief Executive    07977 002 366 
 
 Redleaf Communications 
 Jenny Bahr/Rebecca Sanders-Hewett     0207 566 6700 
 
 London Waste & Recycling Board 
 Annie Gilbert                         0207 983 4626 
 
  Cenkos Securities 
   Ivonne Cantu (Nomad) 
    Christian Hobart (Sales)           0207 397 8980 
 
 

Notes to Editors

About Straight plc

-- Straight plc is the UK's leading supplier of specialist kerbside recycling containers as well as being a key supplier of a broad range of waste and recycling container solutions. Founded in 1993 by the current Chief Executive, Jonathan Straight, the business has since supplied more than 25 million kerbside boxes, baskets and caddies to local authorities across the UK, securing its position as the industry leader.

-- The business operates through two divisions. The core Trade Business supplying products in bulk to local authorities, utilities, the waste industry, retailers and other businesses and the Retail Business supplying a range of proprietary environmentally friendly consumer products directly to the public, often in partnership with a local authority or a utility.

-- In 2010 two acquisitions changed the business model, which previously relied on outsourced manufacture. In March 2010 Straight acquired the business and assets of the UK business of Helesi plc giving it a proprietary position in the wheeled bin market. This was followed in August 2010 by the acquisition of Powell Plastics, a key supplier of injection moulded products to the group. The Powell factory, in Hull, has since been developed to include a blow moulding capability.

-- In February 2009, Straight added to its portfolio with the acquisition of Harcostar Garden Products, a long established premium brand consisting of water butts, compost bins, watering cans and accessories. This gained new distribution channels for the business in the UK and in Europe.

-- In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of home composters and water butts. Through the Blackwall brand, Straight has delivered more than 3.5 million compost bins and water butts.

-- Almost two thirds of the products the Group supplies are now produced in Straight's own factory.

-- Straight plc has established diverse overseas sales channels for its products, some of which are manufactured locally to their markets in North America and in Australia. Other markets are serviced from UK production.

Further information about the company and its products can be found at: www.straight.co.uk

About the London Waste and Recyclng Board (LWARB)

The London Waste and Recycling Board was established by the GLA Act 2007 to promote and encourage the production of less waste, an increase in the proportion of waste that is re-used or recycled and the use of methods of collection, treatment and disposal of waste which are more beneficial to the environment in London. The Board, chaired by the Mayor's representative, James Cleverly, Assembly Member, working in conjunction with London Councils, has a budget to improve waste management in the capital.

http://www.lwarb.gov.uk/

About the Flats Recycling Programme

The programme aims to help authorities overcome common barriers that affect recycling performance on flats and high-rise properties by funding new recycling collection infrastructure such as dedicated recycling chutes and underground collection containers to address issues with space, through to incentive schemes to boost and maintain participation in existing services.

http://www.lwarb.gov.uk/page/?identity=flatsrecyclingprogramme

This information is provided by RNS

The company news service from the London Stock Exchange

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