Rentokil Initial Regulatory News (RTO)

20 Apr 2007 08:00

Rentokil Initial PLC20 April 2007 20 April 2007 RENTOKIL INITIAL CREATES PEST CONTROL LEADERSHIP POSITION IN CHINA IN RESIDENTIAL SECTOR Rentokil Initial plc (RTO), one of the world's leading providers of businesssupport services, today announces that it has reached agreement with BeijingTaiming Technology Ltd to purchase 65% of its pest control business in China fora maximum consideration of RMB 130 million (£8.38m*) based on strict performancecriteria. The company will be renamed Rentokil Taiming. Beijing Taiming is the leading pest control operation in China and owns variouspatents in fumigation technology. The company was established in September 1998. It has developed and patented arange of fumigators for indoor insect control. It also has a range ofproprietary formulated insecticidal products. The service deals comprehensivelywith all common urban pest problems both in residential and commercialenvironments, reducing the risk of spreading vector diseases. In particular, thefumigator kills 100% of mosquitoes in indoor environments within minutes. David Liu, Regional Managing Director - Asia Pacific of Rentokil Initial, said:"We are delighted to announce that after two years of building our foundation inChina, we can now serve both residential and commercial sectors delivering pestcontrol service and products to the market. Our new partner has alreadyregistered patents in China, Canada, South Africa and the United States for themost innovative pest control application technology that provides Chineseconsumers a cleaner and healthier environment. This new joint venture willtransform our business in China." * Conversion rate based on RMB15.5 to £1. - Ends - About Rentokil Initial Rentokil Initial is one of the largest business services companies in the world,operating in all the major economies of Europe, North America, Asia Pacific andAfrica. The company has some 70,000 employees providing a range of supportservices in over 40 countries where the 'Rentokil' and 'Initial' brands havecome to represent innovation, deep expertise and consistent quality of service.Services include textiles and washroom services, pest control, tropical plants,parcels delivery and facilities services. Enquiries Rentokil Initial plc Malcolm Padley, Head of Corporate Communications, 07788 978 199 Lisa Williams, Head of Investor Relations, 020 7866 3028 Brunswick Group John Sunnucks, Kate Holgate, 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange