NEWS : Post

Straight Buys UK
Helesi Business
 

• Acquisition of UK business and assets of Helesi plc
• Strategic alliance
• Business as usual

Straight plc, the environmental products and services group, is pleased to announce that it has acquired the business and certain assets relating to the UK manufacturing operations of Helesi plc. Customers should expect business as usual going forward.

Until recently, Helesi manufactured 2-wheeled bins in Bradford. The moulding machinery and several bin moulds will now transfer to one of Straight's main moulding partners allowing UK production to recommence within the next few weeks.

The Group will begin selling the products directly to its wide customer base and will assume Helesi's position supplying the UK and Irish markets, as well as taking over existing customer contracts and supply agreements. From March 2010, the range of two-wheeled bins will be jointly branded 'Straight' and 'Helesi'.

As part of the agreement, Straight has entered into a strategic alliance with Helesi under which it will become the exclusive UK and Irish distributor and licensee for Helesi plastic 4-wheeled bins and other products. Straight will also have the right of first refusal to import and distribute any new products developed by Helesi.

Despite holding a 10-15% share of the UK wheeled bin market, Straight has never had a proprietary product. Straight believes that the addition of this proprietary wheeled bin range will significantly strengthen its position in its core markets.

Welcoming the news, Jonathan Straight, Chief Executive of Straight plc said,"We have been a distributor of Helesi products in the UK for a number of years and our customers have always been very satisfied with their high quality. We are delighted that we are now able to service these markets with a proprietary product, manufactured locally and in line with our proven business model which prides itself on quality, innovation and market leadership."

Chief Executive of Helesi, Sakis Andrianopoulos said, "This transaction represents a natural development of our European growth strategy and we look forward to working with Straight to develop our activities in the UK."