Straight PLC Contract wins - Replacement
January 13 2014 - 3:03AM
RNS Non-Regulatory
TIDMSTT
Straight PLC
13 January 2014
Date: 13 January 2014
On behalf of: Straight plc ("Straight" the "Company" or
"the Group")
Embargoed until: 0700hrs
Straight plc
Contract Wins
Straight plc, the environmental products and services group and
the UK's leading supplier of specialist waste and recycling
container solutions, is pleased to announce that it has been
reappointed by the Eastern Shires Purchasing Organisation ("ESPO")
and the Central Buying Consortium ("CBC") to supply a wide range of
products under a two year Framework Agreement, with the option to
extend for a further two years. The estimated value of the four
year Framework Agreement, which commences on 1 February 2014, is
expected to be up to GBP100m through which Straight expects to
generate at least GBP4m of annual revenues in line with recent
levels achieved from this channel.
Of 18 possible lots, Straight bid for a total of 14 and secured
a position on all of these, meaning Straight have the largest
product range on the framework. The products to be supplied include
all of the Group's core product range including plastic wheeled
bins, steel wheeled bins, food waste caddies and kerbside
collection boxes as well as its two new products, the 3BoxStack and
the Food Waste Inner Caddy. Straight holds joint supplier status on
each lot with the exception of providing a Totally Managed Solution
for Compost Bins where the Group is sole supplier.
ESPO and CBC are local government purchasing and distribution
consortia with a broad geographical coverage. The Framework
Agreement can be used by all public sector organisations in the UK,
including local authorities as well as other public bodies and
charities.
The Group is also pleased to announce that as of 1 November
2013, it has also been reappointed by Scotland Excel, the Centre of
Procurement Expertise for Scotland's local government sector. The
four year Framework Agreement, which as a whole is estimated to be
worth between GBP32m and GBP40m, involves joint supplier status for
wheeled bins in plastic and steel, food waste caddies and kerbside
boxes.
Jonathan Straight, founder and Chief Executive of Straight plc
said,
"We are delighted to have been appointed to both of these high
profile framework agreements. We have been a supplier to ESPO since
2006 and retaining such a prominent position under the Framework
Agreement further cements our relationship, highlighted by the
inclusion of our two new products. Both contracts indicate a
positive start to 2014 and we look forward to working with both
ESPO and Scotland Excel both now and in the future."
For further information: please contact:
Straight plc
Jonathan Straight, Chief Executive 0113 245 2244
Redleaf Polhill
Rebecca Sanders-Hewett
Jenny Bahr
Rachael Brown 0207 382 4730
Cenkos Securities
Ivonne Cantu (Nomad) 0207 397 8980
Christian Hobart (Sales)
Notes for editors:
About Straight plc
-- Straight plc provides environmental products and services to
both the UK market and overseas.
-- The Group 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
- 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.
-- 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.
-- Straight plc is a founding member of the Social Stock
Exchange, an online portal to promote investment in businesses with
social or environmental impacts.
Further information about the company and its products can be
found at: http://www.straight.co.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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