Framework Agreement

 

TIDMSTT 
 
RNS Number : 9325J 
Straight PLC 
09 April 2010 
 

Date:                           9 April 2010 
On behalf of:               Straight plc ("Straight" or "the Group") 
For immediate release 
 
Straight plc 
 
* Framework Agreement 
 
Straight plc (AIM: STT), the environmental products and services group, is 
pleased to announce that it has been named as one of four successful bidders for 
a framework agreement to supply plastic wheeled bins to the Eastern Shires 
Purchasing Organisation ("ESPO") and the Central Buying Consortium ("CBC"). 
 
The thirty-three month agreement covers the supply of two and four wheel plastic 
wheeled bins ranging in size from 80 litresto 1,000 litres and is expected to 
generate revenues in excess of GBP4 million for the Group. 
 
Although Straight has supplied ESPO and CBC with wheeled bins under previous 
framework agreements, this is the first time that the Group will supply its own 
products. This follows Straight's recent acquisition of wheeled bin manufacturer 
Helesi's UK business. 
 
ESPO and CBC are local government purchasing and distribution consortia with a 
potential geographical spread from North Nottinghamshire through to Hampshire, 
including Bristol in the West and Norfolk in the East. 
 
Commenting on the news, Jonathan Straight, Chief Executive of Straight plc, 
said: 
"Having recently completed the acquisition of Helesi's UK business, our 
inclusion in this framework agreement is hugely timely. 
 
"Although historically Straight hasn't had proprietary wheeled bin products, we 
have still managed to secure a 10-15% share of the UK wheeled bin market. We 
believe that the opportunity to grow our market share is considerable." 
 
 
For further information, please contact 
 
+----------------------------------------+----------------------+ 
| Straight plc                           |                      | 
+----------------------------------------+----------------------+ 
| Jonathan Straight, Chief Executive     | 0113 245 2244        | 
+----------------------------------------+----------------------+ 
|                                        |                      | 
+----------------------------------------+----------------------+ 
| Panmure Gordon                         |                      | 
+----------------------------------------+----------------------+ 
| Andrew Godber                          | 0207 459 3600        | 
+----------------------------------------+----------------------+ 
|                                        |                      | 
+----------------------------------------+----------------------+ 
| Redleaf Communications                 |                      | 
+----------------------------------------+----------------------+ 
| Paul Dulieu                            | 0207 566 6700        | 
+----------------------------------------+----------------------+ 
 
Notes to Editors 
 
  *  Straight plc is the UK's leading supplier of specialist kerbside recycling 
  containers as well as 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 12 million kerbside 
  recycling boxes to local authorities across the UK, securing its position as the 
  industry leader. 
  *  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. 
  *  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. 
  *  Straight operates a radical business model with all manufacture outsourced on an 
  international basis. Most production is local to the end market keeping freight 
  movements and associated emissions to a minimum. 
  *  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 has gained new 
  distribution channels for the business in the UK and in Europe. 
  *  In March 2010, Straight acquired the business and certain assets relating to the 
  UK manufacturing operations of Helesi plc, providing the Group with a 
  proprietary wheeled bin range for the first time. 
  *  Straight plc has established diverse overseas sales channels and is now 
  producing and selling water butts in Australia as well as strong initial sales 
  in the United States and Canada. 
  *  Further information about the company and its products can be found at: 
  www.straight.co.uk 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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