TIDMSTT

Straight PLC

13 January 2014

 
 Date:              13 January 2014 
 On behalf of:      Straight plc ("Straight" the "Company" or 
                     "the Group") 
 Embargoed until:   0700hrs

Straight plc

Contract Wins

Straight plc, the environmental products and services group and the UK's leading supplier of specialist waste and recycling container solutions, is pleased to announce that it has been reappointed by the Eastern Shires Purchasing Organisation ("ESPO") and the Central Buying Consortium ("CBC") to supply a wide range of products under a two year Framework Agreement, with the option to extend for a further two years. The estimated value of the four year Framework Agreement, which commences on 1 February 2014, is expected to be up to GBP100m through which Straight expects to generate at least GBP4m of annual revenues in line with recent levels achieved from this channel.

Of 18 possible lots, Straight bid for a total of 14 and secured a position on all of these, meaning Straight have the largest product range on the framework. The products to be supplied include all of the Group's core product range including plastic wheeled bins, steel wheeled bins, food waste caddies and kerbside collection boxes as well as its two new products, the 3BoxStack and the Food Waste Inner Caddy. Straight holds joint supplier status on each lot with the exception of providing a Totally Managed Solution for Compost Bins where the Group is sole supplier.

ESPO and CBC are local government purchasing and distribution consortia with a broad geographical coverage. The Framework Agreement can be used by all public sector organisations in the UK, including local authorities as well as other public bodies and charities.

The Group is also pleased to announce that as of 1 November 2013, it has also been reappointed by Scotland Excel, the Centre of Procurement Expertise for Scotland's local government sector. The four year Framework Agreement, which as a whole is estimated to be worth between GBP32m and GBP40m, involves joint supplier status for wheeled bins in plastic and steel, food waste caddies and kerbside boxes.

Jonathan Straight, founder and Chief Executive of Straight plc said,

"We are delighted to have been appointed to both of these high profile framework agreements. We have been a supplier to ESPO since 2006 and retaining such a prominent position under the Framework Agreement further cements our relationship, highlighted by the inclusion of our two new products. Both contracts indicate a positive start to 2014 and we look forward to working with both ESPO and Scotland Excel both now and in the future."

For further information: please contact:

 
 Straight plc 
 Jonathan Straight, Chief Executive    0113 245 2244 
 
 Redleaf Polhill 
 Rebecca Sanders-Hewett 
  Jenny Bahr 
  Rachael Brown                        0207 382 4730 
 
 Cenkos Securities 
 Ivonne Cantu (Nomad)                  0207 397 8980 
 Christian Hobart (Sales)

Notes for editors:

About Straight plc

-- Straight plc provides environmental products and services to both the UK market and overseas.

-- The Group is the UK's leading manufacturer and supplier of specialist kerbside recycling containers, as well as being 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 25 million kerbside boxes, baskets and caddies to local authorities across the UK, securing its position as the industry leader.

-- 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

- 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.

-- Almost two thirds of the products the Group supplies are now produced in Straight's own factory.

-- Straight plc has established diverse overseas sales channels for its products, some of which are manufactured locally to their markets in North America and in Australia. Other markets are serviced from UK production.

-- Straight plc is a founding member of the Social Stock Exchange, an online portal to promote investment in businesses with social or environmental impacts.

Further information about the company and its products can be found at: http://www.straight.co.uk/

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRAEANFDFEELEEF

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