Acquisition

30 Aug 2005 09:43

Norish PLC30 August 2005 Norish plc ("Norish" or the "Company") 30 August 2005 York Norish is pleased to announce that it has exercised an option to acquire the land and property of its York facility from RSH Properties Limited fora total consideration, net of costs, of £2.0 million. The York facility isan ambient food storage warehouse and has been leased since July 2000. The purchase of York will increase profits before tax at the facility by approximately £84,000 per annum. The purchase of the York facility will befunded by a term loan from HSBC. The acquisition of the York facility will further strengthen the ability of Norish to develop its existing facilities and broaden the range of services provided. Enquiries: NorishTed O'Neill, Executive Chairman Telephone: + 44 1322 303 461 NCBLiam Booth, Managing Director Telephone: + 353 1 611 5611 About Norish:Norish is a third party multi-temperature warehousing and logistics businessproviding services to importers, manufacturers, wholesalers, retailers and distributors. Norish operates from seven sites and provides in excess of 80,000 racked pallet spaces, of which 50,000 are temperature controlled. Allsites offer storage (including bonded), handling, de-vanning, picking andpacking, cross-docking and distribution with freezing and other temperature controlled services available from the cold stores. This information is provided by RNS The company news service from the London Stock Exchange