John Menzies plc is pleased to announce that Menzies Aviation has agreed terms to acquire Airline Cargo Resources (ACR), a cargo handling business based in South Africa.

 

ACR provides air cargo handling and landside trucking at Johannesburg, Cape Town, Durban and Port Elizabeth International Airports.

 

The acquisition provides Menzies with a cargo business to compliment their ground handling operations which will start on 1 March 2008 following the award of ten ground handling licenses across South Africa.

 

ACR had reported gross assets of £0.1m as at 31 December 2006.

 

 

Craig Smyth, Managing Director, Menzies Aviation said:

 

"The acquisition of ACR is a tremendous strategic fit for our business. At the major airports in South Africa we are now able to offer our airline customers a complete service offering.

This acquisition is another example of our belief in building our business by creating regional density. 2008 will be an exciting year for Menzies in South Africa and I am confident we will develop a significant business in this attractive market."