Wincanton secures £13m contract renewal; sells recycling activities for £17.5m
Wincanton has secured a £13 million contract renewal for the distribution of bulk LPG for Shell Gas UK, and has disposed of its recycling business to Sims Group UK. Wincanton has secured a two-year renewal of its UK bulk tanker distribution of aerosol propellants and LPG for Shell Gas. This builds on a ten-year partnership and reinforces Wincanton’s status as the UK market’s leading bulk gas logistics provider. The bulk tanker fleet predominantly loads from Shell Gas terminals at Stanlow in Cheshire and Mossmorran in Fife, and has a nationwide distribution network managed from eight strategic operating centres. In other news, Wincanton has announced the disposal of its recycling business to Sims Group UK by way of an asset sale. The consideration of approximately £17.5 million will be paid in cash on completion and will be used to reduce debt. Wincanton’s recycling business comprises electronics recycling plants at Billingham and Daventry and sortation centres at Harlow and Widnes. The business employs approximately 145 employees, who will transfer to Sims under TUPE on completion. In the twelve months to March 31st, 2010, these recycling activities generated turnover of approximately £18.3 million and EBIT of approximately £0.3 million. Gross assets as at March 31st, 2010 were approximately £8.1 million Quelle: eyefortransport |