| Tue 17 May 2011, 10:20 | | TRE - Trencor Limited - Trencor`s Textainer to acquire containers from Buss |
|
TRE
TRE
TRE - Trencor Limited - Trencor`s Textainer to acquire containers from Buss
Global
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
TRENCOR`S TEXTAINER TO ACQUIRE CONTAINERS FROM BUSS GLOBAL
We draw attention to the following news release issued by Textainer Group
Holdings Limited, in which Trencor has a 60,9% beneficiary interest:
"May 16, 2011 Hamilton, Bermuda -- (Business Wire) -- Textainer Group Holdings
Limited (NYSE: TGH) ("Textainer", the "Company", "we" and "our"), the world`s
largest lessor of intermodal containers based on fleet size, today announced
that Textainer has purchased approximately 171,000 TEU of containers and
related lease rights and working capital that it has been managing for Buss
Global Container Fonds 1 Partnership ("Buss Global") since 2006. The
transaction, which has an effective date of May 1, 2011, was closed today for
a total purchase price of approximately $174 million. The majority of the Buss
Global fleet consists of dry freight containers and the purchase increased the
percentage of Textainer`s owned fleet from 52% of its total fleet at the end
of March 2011 to 59% today.
"We are pleased to once again take advantage of opportunities presented by the
current industry fundamentals and enter into another accretive transaction for
our shareholders," stated John A. Maccarone, President and CEO of Textainer.
"While managing containers provides distinct benefits, container ownership is
typically more profitable. By purchasing approximately 171,000 TEU of
containers, we will increase the owned portion of our fleet, positioning us to
further increase our profitability. We intend to continue to utilize our
strong financial flexibility to take advantage of similar opportunities that
allow us to grow the owned portion of our fleet," commented Mr. Maccarone.
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com"
Cape Town
17 May 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
Date: 17/05/2011 10:20:03 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
