Regulatory Announcements
22 August 2006
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John Menzies plc announces acquisition of Malmo Main Air Cargo AB.
John Menzies plc, the time-critical logistics company, is pleased to announce that Menzies Aviation, its aviation support services subsidiary, has acquired the entire issued share capital of Malmo Main Air Cargo AB (MAC) for cash.
MAC provides cargo handling and trucking services from its base at Malmo-Sturup airport in Sweden. Malmo-Sturup is Sweden's third largest airport and handled some 1.8 million passengers and 31,160 tonnes of cargo in 2005.
MAC was previously owned by Genco Holding AB (70%), JCS Global Trading AB (10%) and APL Holding AB (20%). Paul Jarlsbo, Jan Stachowicz and Axel Loecken owned 100% of each of the above companies respectively.
MAC's reported gross assets for the year ended 31 December 2005 were £2.8m.
Patrick Macdonald, Chief Executive of John Menzies plc, stated:
"Menzies Aviation has, for some time, been keen to expand its operations into the Scandinavian market. The acquisition of MAC provides a strong platform from which to grow."
Enquiries
John Menzies plc
Patrick Macdonald, Chief Executive 0131 459 8186
Paul Dollman, Group Finance Director 0131 459 8186
Citigate Dewe Rogerson
Ginny Pulbrook 020 7282 2945
Ged Brumby 020 7282 2996
NOTES TO EDITORS
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John Menzies plc, the time-critical logistics company, is one of Scotland's largest companies. The company has two operating divisions, Menzies Distribution and Menzies Aviation. These divisions operate in two distinct sectors where success depends on providing an efficient, high quality, time-critical service to their customers and partners.
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In the year ended 31 December 2005, Menzies reported Group turnover of £1,362.1m (2004 - £1,330.6m) and Group profit on ordinary activities before tax and exceptionals of £36.1m (2004 - £30.0m). Turnover at the Distribution division was £1,104.3m (2004 - £1,109.4m) whilst pre-exceptional operating profit was £30.7m (2004 - £30.5m). In the Aviation division turnover was £285.7m (2004 - £259.8m) and pre-exceptional operating profit was £13.3m against £10.3m in 2004.
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The company was established in 1833 and its head office is in Edinburgh, Scotland. Today the company is an international operation with offices, partners and contracts located in Europe, North and South America, Australasia and Africa.
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Menzies Aviation is one of the world's major independent suppliers of ground handling services to the aviation market providing passenger, ramp and cargo services for many of the world's leading airlines and some of the busiest international airports. The division employs over 12,000 people across the globe, at 99 airports in 24 countries servicing more than 500 airline customers.
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Further information on John Menzies plc can be found at: www.johnmenziesplc.com; www.menziesdistribution.com and www.menziesaviation.com. |
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