Regulatory Announcements
10 January 2000
The principal customer of this acquired business is Aer Lingus, which have awarded MTS a 10 year contract to handle their Heathrow cargo. Together with its other customers, which include Austrian Airways, Olympic Airways and Air Algerie, the terminal currently handles some 14,000 tonnes per annum. However, its capacity can be expanded to 30,000 tonnes.
The business will be integrated with MTS' existing cargo operations and is expected to be profitable in its first full year following acquisition.
David Mackay, Chief Executive of John Menzies, said:
"The acquisition of the Aer Lingus cargo terminal further consolidates the position of MTS at Heathrow, the UK's premier cargo hub, where we now act for over 40 airlines. This confirms MTS as the UK's largest independent air cargo handler."
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ACQUISITION OF AER LINGUS CARGO TERMINAL
John Menzies plc has further expanded its airport services division Menzies Transport Services ("MTS") by acquiring the air cargo terminal of Aer Lingus at Heathrow for £6m in cash.The principal customer of this acquired business is Aer Lingus, which have awarded MTS a 10 year contract to handle their Heathrow cargo. Together with its other customers, which include Austrian Airways, Olympic Airways and Air Algerie, the terminal currently handles some 14,000 tonnes per annum. However, its capacity can be expanded to 30,000 tonnes.
The business will be integrated with MTS' existing cargo operations and is expected to be profitable in its first full year following acquisition.
David Mackay, Chief Executive of John Menzies, said:
"The acquisition of the Aer Lingus cargo terminal further consolidates the position of MTS at Heathrow, the UK's premier cargo hub, where we now act for over 40 airlines. This confirms MTS as the UK's largest independent air cargo handler."
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