Major Framework Agreement
February 03 2010 - 2:00AM
UK Regulatory
TIDMSTT
RNS Number : 5755G
Straight PLC
03 February 2010
Date: 3 February 2010
On behalf of: Straight plc ("Straight" or "the Group")
For immediate release
Straight plc
* Major Framework Agreement
Straight plc (AIM: STT), the environmental products and services group, is
pleased to announce that it has been appointed by the Eastern Shires Purchasing
Organisation ("ESPO") and the Central Buying Consortium ("CBC") to supply a
range of products under a three year refuse and recycling product Framework
Agreement ("the Agreement") which is expected to generate revenue in excess of
GBP8 million for the Group.
Under the Framework Agreement, Straight has been awarded joint supplier status
on an extensive range of core products including steel wheeled bins, kerbside
boxes and food waste caddies. The Group has also been awarded sole supplier
status for the provision of compost bins to ESPO and CBC's members and end
customers.
Straight is the only company to supply such a range of products under the
Agreement and the Group believes that it will provide considerable opportunities
for its core products whilst also benefiting local authorities through their
ability to aggregate purchasing.
Straight's selection as sole supplier of compost bins under the Agreement is a
direct result of the early termination in September 2009 of WRAP's, the
government funded Waste & Resources Action Programme, scheme to supply home
compost bins to local Councils in England. Having supplied more than half of the
compost bins used by WRAP during its six year campaign, and created the model on
which WRAP's campaign was based, Straight is ideally placed to provide local
authorities in England with a competitive compost bin programme
ESPO and CBC are local government purchasing and distribution consortia with a
potential geographical spread from North Nottinghamshire through to Hampshire,
including Bristol in the West and Norfolk in the East. This Framework Agreement
includes an option to deliver to individual households, public sector bodies and
organisations, as well as UK-registered charities based in the area.
Commenting on the news, Jonathan Straight, Chief Executive of Straight plc,
said:
"We are absolutely delighted to have such a prominent position on this Framework
Agreement. Building on a relationship established in 2006, we are now able to
offer almost our entire range through ESPO. Steel wheeled bins are now included
for the first time and the range includes kerbside boxes, foodwaste caddies for
indoor and outdoor use, woven kerbside bags, compostable liners made of paper
and bioplastics and compost bins for bulk supply.
"In terms of the home composting campaigns we can now offer to all councils, we
are looking forward to returning to the forefront of a market that we led for
many years prior to WRAP's intervention."
For further information, please contact
+----------------------------------------+----------------------+
| Straight plc | |
+----------------------------------------+----------------------+
| Jonathan Straight, Chief Executive | 0113 245 2244 |
+----------------------------------------+----------------------+
| | |
+----------------------------------------+----------------------+
| Panmure Gordon | |
+----------------------------------------+----------------------+
| Andrew Godber | 0207 459 3600 |
+----------------------------------------+----------------------+
| Ashton Clanfield, Corporate Broking | |
+----------------------------------------+----------------------+
| | |
+----------------------------------------+----------------------+
| Redleaf Communications | |
+----------------------------------------+----------------------+
| Paul Dulieu / Kathryn Hurford | 0207 566 6700 |
+----------------------------------------+----------------------+
Notes to Editors
· Straight plc is the UK's leading supplier of specialist kerbside recycling
containers as well as 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 12 million kerbside
recycling boxes to local authorities across the UK, securing its position as the
industry leader.
· 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.
· 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.
· Straight operates a radical business model with all manufacture outsourced
on an international basis. Most production is local to the end market keeping
freight movements and associated emissions to a minimum.
· 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 has gained new
distribution channels for the business in the UK and in Europe.
· Straight plc has established diverse overseas sales channels and is now
producing and selling water butts in Australia as well as strong initial sales
in the United States and Canada.
· Further information about the company and its products can be found at:
www.straight.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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