Straight PLC Straight plc announces £1.7m contract with Serco

TIDMSTT

Straight PLC

04 February 2013

 
 Date:              4 February 2013 
 On behalf of:      Straight plc ("Straight" the "Company" or 
                     "the Group") 
 Embargoed until:   0700hrs 
 

Straight plc

Announces GBP1.7m contract with Serco

Straight plc (AIM:STT) the environmental products and services group is pleased to announce it has been awarded a significant contract with Serco, the international service company, to provide containers and other products for its Canterbury City Council contract.

The Group will assist with the implementation of new waste and recycling initiatives in the second and third quarters of the year. The initiatives and how Straight is assisting are as follows:

-- Recyclables and garden waste will be collected alternate weeks with residual waste. Straight will provide 240 litre wheeled bins, complete with a 55 litre wheeled bin inner caddy. The bins will be used for mixed recyclables and the caddy for paper and card respectively. Further sizes of wheeled bins will also be provided.

-- The collection of mixed recyclables in communal areas will be serviced by the Straight 1,100 litre Steelybin(R) metal bins equipped with suitable apertures.

-- A new weekly food waste collection is to be introduced using Straight 5 Litre and 23 litre caddies for indoor and outdoor use. Each household will also be issued with a roll of Straight Compost-a-Bag(R) compostable liners. Additional liners will be available via Straight's caddyliners.com website.

Jonathan Straight, Chief Executive at Straight plc said:

"I am delighted to announce our GBP1.7m contract win with Serco which illustrates our strength as a key player in the waste management industry and the partner of choice for contracts of this nature. We very much look forward to working with Serco and helping Canterbury City Council achieve its new recycling initiatives."

Robin Davies, Development Director at Serco said:

"Our contract with Straight will play an important role in servicing our renewed eight year agreement with Canterbury City Council. They fully integrated into and supported our bid process providing waste management expertise. They also supply high quality products which are durable and proven across UK Local Authorities over many years.We very muchlook forward to working with the Company."

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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 Serco:

Serco is a FTSE 100 international service company, which combines commercial know-how with a deep public service ethos.

Around the world, we improve essential services by managing people, processes, technology and assets more effectively. We advise policy makers, design innovative solutions, integrate systems and - most of all - deliver to the public.

Serco supports governments, agencies and companies who seek a trusted partner with a solid track record of providing assured service excellence. Our people offer operational, management and consulting expertise in the aviation, BPO, defence, education, environmental services, facilities management, health, home affairs, information and communications technology, knowledge services, local government, science and nuclear, transport, welfare to work and the commercial sectors.

More information can be found at www.serco.com

This information is provided by RNS

The company news service from the London Stock Exchange

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