TIDMSTT
RNS Number : 8532F
Straight PLC
30 May 2013
Date: 30 May 2013
On behalf of: Straight plc ("Straight" the "Company" or
"the Group")
Embargoed until: 0700hrs
Straight plc
Four year contract with YPO
Straight plc, (AIM: STT) the environmental and products services
group, is pleased to announce that it has secured a position on a
new four year framework agreement with YPO, to supply a range of
plastic wheeled bins from 140 to 1100 litre capacity.
The new contract is estimated to be worth between GBP30 and
GBP60m across a total of six suppliers on the framework. It
replaces a previous framework agreement for wheeled bins which has
now expired. Straight plc now holds positions on a total of four
YPO framework agreements, which include the supply of metal wheeled
bins, recycling containers and compostable liners as well as
plastic wheeled bins.
YPO customers include public sector organisations such as
schools, colleges and universities, emergency services, and major
local government departments. Framework agreements offer a fully
compliant route to market, allowing customers to buy goods without
going through the full procurement process required through the
Official Journal of the European Union.
Jonathan Straight, Chief Executive of Straight plc,
commented:
"We have been a supplier to YPO, the UK's largest public sector
organisation, since 2005, and a supplier of wheeled bins to YPO
customers since 2008. Our appointment is testament to our high
compliance and quality levels, and the fact our products have also
achieved the latest standards for certification. We look forward to
continuing to work with YPO now and in the future, and to continue
the high level of service that we are renowned for."
Helen Wardman, Category Manager at YPO said:
"Having worked with Straight for a number of years, we know
first-hand that it enables us to deliver real savings to our
customers combined with a high level of customer service and an
exceptional quality standard. I am therefore delighted to continue
our relationship and look forward to continuing to work together in
the future."
- End -
For further information: please contact:
Straight plc
Jonathan Straight, Chief Executive 07977 002 366
Redleaf Polhill
Rebecca Sanders-Hewett /Jenny Bahr 0207 566 6720
Cenkos Securities
Ivonne Cantu (Nomad) 0207 397 8980
Christian Hobart (Sales)
Notes for editors:
About Straight plc
-- Straight plc is the UK's leading manufacturer and supplier of
specialist kerbside recycling containers, as well as being a key
supplier of a broad range of waste and recycling container
solutions. Founded in 1993 by the current Chief Executive, Jonathan
Straight, the business has since supplied more than 25 million
kerbside boxes, baskets and caddies to local authorities across the
UK, securing its position as the industry leader.
-- The business operates through two divisions. The core Trade
Business supplying products in bulk to local authorities,
utilities, the waste industry, retailers and other businesses and
the Retail Business supplying a range of proprietary
environmentally friendly consumer products directly to the public,
often in partnership with a local authority or a utility.
-- In 2010 two major acquisitions changed the business model,
which previously relied on outsourced manufacture. In March 2010
Straight acquired the business and assets of the UK business of
Helesi plc giving it a proprietary position in the wheeled bin
market. This was followed in August 2010 by the acquisition of
Powell Plastics, a key supplier of injection mouldedproducts to the
group. The Powell factory, in Hull, has since been developed to
include a blow mouldingcapability.
-- In February 2009, Straight added to its portfolio with the
acquisition of Harcostar Garden Products, a long established
premium brand consisting of water butts, compost bins, watering
cans and accessories. This gained new distribution channels for the
business in the UK and in Europe.
-- In 2005, Straight acquired Blackwall Limited, the UK's
largest supplier of home composters and water butts. Through the
Blackwall brand, Straight has delivered more than 3.5 million
compost bins and water butts.
-- Almost two thirds of the products the Group supplies are now
produced in Straight's own factory.
-- Straight plc has established diverse overseas sales channels
for its products, some of which are manufactured locally to their
markets in North America and in Australia. Other markets are
serviced from UK production.
Further information about the company and its products can be
found at: www.straight.co.uk
About YPO:
-- YPO provides a professional procurement service that allows
its public sector customers to achieve cost and efficiency savings
through its substantial bulk buying power and the convenience of
its diverse 'one stop shop'.
-- YPO is the largest formally constituted local authority
purchasing consortium in the UK.
-- YPO is owned by 13 local government member authorities. The
organisation has an expanding list of associate member authorities
across the wider public sector.
-- Established in 1974 to aggregate the procurement spend of its
owning local authorities, YPO has helped drive public sector
efficiency savings through its bulk buying power for supplies and
centralised contract services initiatives.
-- All surplus profit generated through YPO's trading operations
are returned to the public sector, helping to protect frontline
services.
-- Based in Wakefield, in close proximity to the M1 and M62
motorways, YPO employs over 450 staff across two sites.
-- YPO is a member of the Pro5 Group of professional buying
organisations in the UK, with a combined purchasing power in excess
of GBP2 billion per annum.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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