BARLOWORLD LIMITED - BARLOWORLD EXPANDS HANDLING BUSINESS INTO NORTHERN IRELAND
BARLOWORLD LIMITED
(Registration number 1918/000095/06)
JSE code: BAW
ISIN code: ZAE000026639
(`Barloworld`)
BARLOWORLD EXPANDS HANDLING BUSINESS INTO NORTHERN IRELAND
Barloworld has reached agreement to purchase CMS Lift trucks, Northern Ireland`s
exclusive Hyster dealer, for a purchase consideration of GBP5 million (R55-
million). Privately-held CMS has been a leading provider of materials handling
equipment in Northern Ireland for over 20 years.
The acquisition, which is fully supported by the owners of CMS, will form part
of Barloworld`s international Materials Handling business. It represents a
further expansion of the Barloworld- Hyster partnership in which Barloworld is
the Hyster dealer in eight states in the south-east USA, the UK, Belgium,
Holland and southern Africa.
CMS Lift Trucks was formed in 1983 and has a major share of the Northern Irish
lift truck market. In 1997 it made a large investment in purpose-built offices,
showroom, parts and workshop facilities in Newtownabbey, near Belfast. The
company currently employs 30 staff of which 16 are mobile engineers.
CMS has an annual revenue of GBP5 million (R55-million) and net assets of
GBP4.2 million (R46-million).
Tony Phillips, chief executive officer of Barloworld, says: `This deal, which
complements our other handling operations in Europe is another example of our
`pacman` strategy of incrementally adding more territory in the things we do
well.`
Keith Hay, managing director of Barloworld Handling`s European Operations,
comments: `We are delighted to reach this agreement and warmly welcome all CMS
employees into the Barloworld family. The acquisition will make an important
contribution to growing our overall European presence.
`The ongoing expansion of Barloworld`s European operation is also testament to
the strength of its partnership with Hyster. Both Barloworld and Hyster see
this as an enormously positive step and view it as an exciting opportunity to
continue the success and growth of our partnership.`
A year ago Barloworld strengthened its Benelux presence with the acquisition of
the successful Dutch Hyster distributor Geveke Intern Transport.
Ends
Released on behalf of Barloworld Limited by Westcom. For further information
contact Mark Drewell, Head of Corporate Communications at Barloworld on
+27 11 445 1204, email: mdrewell@barloworld.com, or Keith Hay, managing director
of Barloworld Handling`s European Operations, on 0944 1628 822 151, email:
khay@handling.barloworld.co.uk.
Visit the Barloworld website: www.barloworld.com
Sandton
December 1, 2004
Date: 01/12/2004 10:18:09 AM
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