| Mon 30 Apr 2012, 15:24 | | BAW/BAWP - Barloworld Limited - Completion of the sale of US materials handling |
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BAW BAWP
BAW
BAW/BAWP - Barloworld Limited - Completion of the sale of US materials handling
business
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(JSE ISIN: ZAE000026647)
(Bond issuer code: BIBAW)
("Barloworld" or "the Company")
Completion of the sale of US materials handling business
Barloworld Handling has completed the sale of its US Materials Handling business
to Briggs Equipment and LiftOne who will each acquire a portion of Barloworld`s
assets and represent the Hyster forklift brand in Barloworld`s existing
dealership territory in the south-east of the United States.
The purchase price approximates tangible net asset value and will realise net
cash proceeds of approximately $60m.
The cash will be utilised to repay debt and partially fund a number of exciting
organic and acquisitive growth opportunities for the Barloworld group.
The transaction is below the JSE transaction thresholds and is for information
purposes only.
Sandton
30 April 2012
About Barloworld
Barloworld is a distributor of leading international brands providing integrated
rental, fleet management, product support and logistics solutions. The core
divisions of the group comprise Equipment (earthmoving and power systems),
Automotive and Logistics (car rental, motor retail, fleet services, used
vehicles and disposal solutions, logistics management and supply chain
optimisation) and Handling (materials handling and agriculture). We offer
flexible, value adding, integrated business solutions to our customers backed by
leading global brands. The brands we represent on behalf of our principals
include Caterpillar, Hyster, Avis, Audi, BMW, Ford, General Motors, Mercedes-
Benz, Toyota, Volkswagen and others.
Barloworld has a proven track record of long-term relationships with global
principals and customers. We have an ability to develop and grow businesses in
multiple geographies including challenging territories with high growth
prospects. One of our core competencies is an ability to leverage systems and
best practices across our chosen business segments. As an organisation we are
committed to sustainable development and playing a leading role in empowerment
and transformation. The company was founded in 1902 and currently has operations
in 26 countries around the world with approximately 60% of our eighteen thousand
employees in South Africa.
Corporate information
Registered office and business address
Barloworld Limited, 180 Katherine Street
PO Box 782248, Sandton, 2146, South Africa
Tel +27 11 445 1000
Email invest@barloworld.com
Directors
Non-executive: DB Ntsebeza (Chairman), SAM Baqwa, AGK Hamilton*, SS Mkhabela,
SS Ntsaluba, TH Nyasulu, G Rodriguez de Castro de los Rios+, SB Pfeiffer
Executive: CB Thomson (Chief Executive), PJ Blackbeard, PJ Bulterman, M
Laubscher,
OI Shongwe, DG Wilson
*British +Spanish American
Group company secretary: Bethuel Ngwenya
Enquiries: Barloworld Limited: Jacey de Gidts
Tel +27 11 445 1000
E-mail invest@barloworld.com
College Hill: Jacques de Bie, Tel +27 11 447 3030
E-mail Jacques.deBie@collegehill.co.za
For background information visit www.barloworld.com
Date: 30/04/2012 15:24:02 Produced by the JSE SENS Department.
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