Regulatory Announcements
23 April 2007
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John Menzies plc acquires Universal Air Cargo Pty Ltd.
John Menzies plc, the time-critical logistics company, is pleased to announce that Menzies Aviation, its aviation support services subsidiary, has agreed terms to acquire Universal Air Cargo Pty Ltd (UAC).
UAC is an international wholesale freight forwarder operating at 11 locations in Australasia and the USA. The business will be merged with Menzies Aviation's AMI business, a freight and express wholesaler.
UAC was previously privately owned and its reported gross assets as at 30 June 2006 were £4.08m.
Craig Smyth, Managing Director, Menzies Aviation said:
"I am delighted that we have acquired UAC. There are significant synergies with our existing AMI business which has made great strides in the last eighteen months. This acquisition provides an ideal platform from which to grow the business further."
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For further information contact: |
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John Geddes, Head of Investor Relations, John Menzies plc |
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0131 459 8180 |
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Ged Brumby, Citigate Dewe Rogerson |
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0207 638 9571 |
NOTES TO EDITORS
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1. |
John Menzies plc, the time-critical logistics company, is one of Scotland's largest companies. The company has two operating divisions, Menzies Aviation and Menzies Distribution. Both divisions operate in distinct B2B 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 30 December 2006, John Menzies reported revenue of £1,450.4m (2005 - £1,362.1m) and underlying profit before tax of £35.8m (2005 - £39.4m). Revenue at the Aviation division was £318.4m (2005 - £268.6m) whilst underlying operating profit was £16.6m (2005 - £13.3m). In the Distribution division turnover was £1,132.0m (2005 - £1,093.5m) and underlying operating profit was £23.7m against £30.7m in 2005.
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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 businesses in Europe, North and South America, South East Asia, 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 world, at 108 airports in 23 countries servicing more than 500 aviation customers.
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Menzies Distribution is a leading provider of added value distribution and marketing services to the newspaper and magazine supply chain in the UK. The division handles 4.8 million newspapers (6.4 million on Sundays) and 2.6 million magazines (covering 3,000 magazine titles) each day, with deliveries to more than 23,000 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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