| Tue 22 Jan 2008, 15:04 | | LAF - Lonrho`s Shipping Company `Sails` Receives 1,000 Refrigerated Containers |
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LAF
LOLAF
LAF - Lonrho`s Shipping Company `Sails` Receives 1,000 Refrigerated Containers
To Meet Demand From South African Fruit Exporters
Lonrho Plc
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF & ISIN number: GB0002568813)
("Lonrho" or "the Company")
LONRHO`s SHIPPING COMPANY `SAILS` RECEIVES 1,000 REFRIGERATED CONTAINERS TO MEET
DEMAND FROM SOUTH AFRICAN FRUIT EXPORTERS
Lonrho (AIM: LONR), the expanding conglomerate with a structured portfolio of
African investments, is pleased to announce that it`s subsidiary, SA Independent
Liners Services Pty Ltd ("SAILS"), a shipping line based in South Africa, has
leased one thousand refrigerated containers for an eight year term.
The refrigerated containers are specialist units known as `reefers` and provide
the ability to transport chilled or frozen goods. Following this transaction,
the Lonrho fleet of six vessels now has the ability to carry reefers at an
average of 30% of its storage capacity on each voyage, thereby meeting the
demand from the booming South African fruit growing market for delivering fresh
produce to the European markets. As a result of the transaction, SAILS has
become one of the leading shippers in this sector, and has secured US$ 14
million in new contracts for its shipping service to Europe.
The refrigerated units also provide a service on the return voyage, where they
can move medical and other chilled consumables being delivered to the African
market.
The containers have a contract value of US$ 28 million, based on an eight year
lease. They were ordered from Daikin Refrigerated Containers and manufactured to
order in Shanghai. The containers were delivered for use by the Lonrho fleet
during November and December 2007 and are now fully deployed.
David Lenigas, Lonrho`s Chairman, stated:
"The ability to offer refrigerated containers to our customers is a niche, high
margin market, and strengthens SAILS business. The fact that all one thousand
units have been immediately put into service demonstrates the demand from this
sector for reefers. We are pleased to be supporting the expanding and important
South African fruit industry, and providing the services required to take
African goods to the European market in the best possible condition."
ENQUIRIES
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive +44 (0)7881 825 378
Chairman
Geoffrey White, Chief +44 (0)7717 307 308
Executive Officer
Emma Priestley, Executive +44 (0)7867 785 177
Director
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297903
Alisdair Haythornthwaite +44 (0) 20 7743 6676
+44 (0) 7714 721379
Collins Stewart Europe : NOMAD
to Lonrho
Jonny Sloan/Hugh Field +44 (0) 20 7523 8350
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful
business throughout Africa. The Company is listed on the London AIM stock
exchange (LONR). Lonrho is strategically focused on the development of business
opportunities in infrastructure, transportation, support services and natural
resources. The Company has over 20,000 shareholders and substantial
institutional backing to support its mandate to build a profitable business that
plays a fundamental role in the development of the African economy.
Since 2006, the Company has invested in or acquired control of:
- Hotel Cardoso - www.hotelcardoso.co.mz
- Lonrho Mining - www.lonrhomining.com
- Luba Freeport - www.lubafreeport.com
- Fly540 - www.fly540.com
- Norse Air - www.norseair.co.za
- Swissta Holdings - www.swissta.com
- SA Independent Liner Services - www.saliners.com
- Bytes and Pieces
22 January 2008
Date: 22/01/2008 15:04:21 Produced by the JSE SENS Department.
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