Straight PLC Four year contract with YPO (8532F)

TIDMSTT

RNS Number : 8532F

Straight PLC

30 May 2013

 
 Date:              30 May 2013 
 On behalf of:      Straight plc ("Straight" the "Company" or 
                     "the Group") 
 Embargoed until:   0700hrs 
 

Straight plc

Four year contract with YPO

Straight plc, (AIM: STT) the environmental and products services group, is pleased to announce that it has secured a position on a new four year framework agreement with YPO, to supply a range of plastic wheeled bins from 140 to 1100 litre capacity.

The new contract is estimated to be worth between GBP30 and GBP60m across a total of six suppliers on the framework. It replaces a previous framework agreement for wheeled bins which has now expired. Straight plc now holds positions on a total of four YPO framework agreements, which include the supply of metal wheeled bins, recycling containers and compostable liners as well as plastic wheeled bins.

YPO customers include public sector organisations such as schools, colleges and universities, emergency services, and major local government departments. Framework agreements offer a fully compliant route to market, allowing customers to buy goods without going through the full procurement process required through the Official Journal of the European Union.

Jonathan Straight, Chief Executive of Straight plc, commented:

"We have been a supplier to YPO, the UK's largest public sector organisation, since 2005, and a supplier of wheeled bins to YPO customers since 2008. Our appointment is testament to our high compliance and quality levels, and the fact our products have also achieved the latest standards for certification. We look forward to continuing to work with YPO now and in the future, and to continue the high level of service that we are renowned for."

Helen Wardman, Category Manager at YPO said:

"Having worked with Straight for a number of years, we know first-hand that it enables us to deliver real savings to our customers combined with a high level of customer service and an exceptional quality standard. I am therefore delighted to continue our relationship and look forward to continuing to work together in the future."

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For further information: please contact:

 
 Straight plc 
 Jonathan Straight, Chief Executive    07977 002 366 
 
 Redleaf Polhill 
 Rebecca Sanders-Hewett /Jenny Bahr    0207 566 6720 
 
 Cenkos Securities 
 Ivonne Cantu (Nomad)                  0207 397 8980 
 Christian Hobart (Sales) 
 

Notes for editors:

About Straight plc

-- Straight plc is the UK's leading manufacturer and 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 major 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 mouldedproducts to the group. The Powell factory, in Hull, has since been developed to include a blow mouldingcapability.

-- 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 YPO:

-- YPO provides a professional procurement service that allows its public sector customers to achieve cost and efficiency savings through its substantial bulk buying power and the convenience of its diverse 'one stop shop'.

-- YPO is the largest formally constituted local authority purchasing consortium in the UK.

-- YPO is owned by 13 local government member authorities. The organisation has an expanding list of associate member authorities across the wider public sector.

-- Established in 1974 to aggregate the procurement spend of its owning local authorities, YPO has helped drive public sector efficiency savings through its bulk buying power for supplies and centralised contract services initiatives.

-- All surplus profit generated through YPO's trading operations are returned to the public sector, helping to protect frontline services.

-- Based in Wakefield, in close proximity to the M1 and M62 motorways, YPO employs over 450 staff across two sites.

-- YPO is a member of the Pro5 Group of professional buying organisations in the UK, with a combined purchasing power in excess of GBP2 billion per annum.

This information is provided by RNS

The company news service from the London Stock Exchange

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