Clarkson Regulatory News (CKN)

16 Jun 2006 09:39

Clarkson PLC16 June 2006 CLARKSON PLC CLARKSONS AND GENCHEM Clarkson PLC ('Clarksons'), the world's leading shipping services group, andGenchem Holdings Limited ('Genchem') today announce that they are in advanceddiscussions with a view to Clarksons acquiring Genchem. Genchem, which hasoperations in London, Ipswich, Great Yarmouth, Bristol, Liverpool andSouthampton, is a privately owned shipping services provider. Genchem'sservices comprise shipbroking, port agency, warehousing and stevedoringemploying 47 people. Alex Geddes, Managing Director of Genchem commented: 'The services we provideoffer considerable scope for growth, particularly when we join forces withClarksons. I am delighted that my colleagues and I shall have the opportunity ofworking in this exciting new environment which will enable us to offer morecomprehensive services to our combined global shipping clients.' Richard Fulford-Smith, CEO of Clarksons said: 'Following our acquisition ofPlowrights and the additional skill sets that they have brought to us, werecognise that this specialised sector sits comfortably in a transparent publiccompany environment. Outsourcing business in the style of our specialisedproduct team requires quality personnel and Genchem's people fit the billperfectly. Acquiring Genchem will also enhance our opportunities to add globalgrowth to this specialised area of our business, including in our other keycentres of Houston, Singapore and Dubai.' It is anticipated that the effective date of the acquisition will be 1 July2006. However, the transaction is subject to due diligence, which is underway,and final contract. In accordance with the UK Listing Authority Rules, furtherdetails of this Class 2 transaction will be provided upon completion. For further information: Richard Fulford-Smith Clarkson PLC Telephone: +44 20 7334 3139 Alex Geddes Genchem Holdings Limited Telephone: +44 20 7776 4680 Notes to editors Background to Clarkson PLC Clarkson PLC (which is listed on the London Stock Exchange) is acknowledged asthe world's leading shipping services group. Through its unrivalled andextensive global network of offices it is able to give its clients unique accessto a wide range of shipping services. Clarksons covers shipbroking, research,publications, derivatives and logistics. Clarksons' strategy is to expand anddevelop the group around these key activities. For further information on Clarkson PLC, please visit the company's website atwww.clarksons.com This information is provided by RNS The company news service from the London Stock Exchange