Speedy Hire Regulatory News (SDY)

Speedy Hire Plc ("Speedy")

10 March 2011

Speedy Awarded Multi-Million Pound, Two Year Sole Supply Agreement with Tesco plc

Speedy, the UK's leading provider of equipment rental and support services, has secured a new two year sole supply framework agreement with Tesco plc, the UK's largest and one of the world's leading retailers.

Speedy will now supply all of Tesco's supply chain contractors in the UK and Ireland working on its refurbishment, and build programmes for all new and existing stores throughout 2011 and 2012.

Speedy and Tesco estimate the value of the agreement to be worth £12 million over the two year period.

The sole supply agreement includes the full range of Speedy products including Small Tools, Building Equipment and General Plant as well as specific products such as Powered Access, which will be provided through Speedy's national depot network.

Tesco has also awarded Speedy its Platinum supplier status, placing the support services business among its leading contractors.

Tesco contractors will benefit from a dedicated hire desk at Speedy and 24/7 access to Speedy's market leading extranet system to better manage their needs online.

Tesco's contractors will also have access to Speedy's award winning Health & Safety and environmental initiatives to raise site awareness in respect of safety related products and more energy efficient options for rent.

Commenting, Vijay Vekria, Buying Manager for Construction at Tesco, said:

"We wanted a partner that understood and could support the different phases of our new build and maintenance programme by providing advice, the highest quality equipment and all on a national basis.

"Speedy was appointed because they met these needs with their impressive experience supporting major projects."

Commenting, Steve Corcoran, Chief Executive of Speedy said:

"Speedy's experience supporting national agreements across multiple sites continues to be recognised by new clients like Tesco.

"Our unrivalled national network, extensive product range and increasing 'beyond hire' capability makes us the ideal partner for significant multi-site or large property operators like Tesco to support their construction and ongoing estate maintenance."

For further information please contact:

Notes to Editors:

Founded in 1977, Speedy is the leading UK provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

·; the provision of small tools and equipment

·; surveying and measurement instrumentation

·; lifting and materials handling equipment

·; powered and non-powered access equipment

·; temporary accommodation

·; compressed air

·; temporary power generation

·; mechanical pumps

·; temporary site communications

The Group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM), as well as offering advisory services in areas such as health and safety, environmental and regulatory compliance.

Commercial Website: www.speedyhire.com 

Corporate Website: www.speedyhire.plc.uk