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Unitrans Limited - Restructuring Of The Operations Of Unitrans Expess
Deliveries (Proprietary) Limited And Ups Logistics Group
South Africa (Proprietary) Limited
UNITRANS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number : 1967/003403/06)
ISIN : ZAE000007670
Share Code : UTR
("Unitrans" or "the Group")
RESTRUCTURING OF THE OPERATIONS OF UNITRANS EXPESS DELIVERIES (PROPRIETARY)
LIMITED AND UPS LOGISTICS GROUP SOUTH AFRICA (PROPRIETARY) LIMITED
Unitrans is pleased to announce the conclusion of a licence agreement with
Aramex International Limited ("Aramex") and the formation of special purpose
vehicles to conduct export express delivery, courier and freight forwarding
services. The Group is also in negotiations regarding the restructuring of
Unitrans" logistics division.
These developments follow the termination by UPS Worldwide Forwarding Inc ("UPS
Worldwide"), with effect from 31 January 2004, of its licence agreement with
Unitrans Express Deliveries (Proprietary) Limited ("UED"). The salient features
of the restructuring of these divisions are:
1. Express Delivery and Courier Services: Export Services
* A licence agreement has been concluded between Aramex and a newly formed
special purpose
vehicle to be called Aramex South Africa (Proprietary) Limited ("Aramex
SA"). Certain assets, employees and leases relating to UED"s export
express delivery and courier services will be transferred to Aramex SA.
UED holds a controlling interest in this company. Other shareholders in
Aramex SA are Mvelaphanda Express Deliveries (Proprietary) Limited, Mr.
PJ Roos and a management consortium.
* Aramex, based in Amman, Jordan, offers an extensive global network with
operations strategically
located in all major cities and hubs. The network encompasses
representation in over 200 countries with over 36000 employees -
offering total transportation solutions to retail and wholesale
customers worldwide. In addition, Aramex has many worldwide global
alliances including more than thirty of the world"s best independent
express companies.
* UED will honour its existing obligations with UPS Worldwide up to 31
January 2004.
2. Freight Forwarding Services
Freight forwarding services will be provided via a company to be called
Unitrans Freight Forwarding (Proprietary) Limited ("Unitrans Freight
Forwarding").
Subject to obtaining such regulatory consents as may be applicable, UED
intends to subscribe for a controlling interest in Unitrans Freight
Forwarding. The other shareholders in Unitrans Freight Forwarding will be
the same as in Aramex SA.
3. Logistics Operations with UPS
* Unitrans is in the process of negotiating with UPSLG International BV
("UPSLG BV") for the purchase by Unitrans for a nominal sum of the 50%
shareholding held by UPSLG BV in UPS Logistics Group South Africa
(Proprietary) Limited ("UPSLG SA").
* It is intended that UPSLG SA will change its name to Unitrans Supply
Chains (Proprietary) Limited ("Unitrans Supply Chains") and will retain its
current business focus.
* All existing contracts held by UPSLG SA will continue to be serviced by
Unitrans Supply Chains.
* Jo Grove, CEO of Unitrans, said "We are confident that UPSLG SA has
built up the intellectual capital required to enable Unitrans Supply Chains
to continue to add value to this important link in our supply chain
offering."
Mr Grove added "Whilst neither UED nor UPSLG SA have been material contributors
to the Group"s revenue or earnings, these businesses are nevertheless important
components of the Group"s overall strategy. The new arrangements, when put in
place, will secure these businesses and will provide a platform for future
growth."
Date: 09/12/2003 05:23:03 PM
Produced by the JSE SENS Department
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