ESKN Esken Limited

 

TIDMSTOB 
 
RNS Number : 4434P 
Stobart Group Limited 
16 July 2010 
 

Friday 16 July 2010 
 
STOBART BIOMASS PRODUCTS LIMITED ENTERS RENEWABLE HEAT MARKET WITH ACQUISITION 
OF AHS ENERGY 
 
Stobart Biomass Products Limited ("SBPL"), a joint venture between the Stobart 
Group and Mr A.W. Jenkinson, has acquired certain parts of the business and 
assets of Sussex-based Amenity Horticultural Services Limited ("AHS"), a leading 
UK manufacturer and supplier of woodchip biomass fuel for renewable heat to 
commercial and domestic users. 
 
The total consideration for AHS will be approximately GBP2 million, to be paid 
in cash on completion.  Stobart Group and Mr Jenkinson have advanced 
approximately GBP1 million each to SBPL in shareholder loans for the 
acquisition.  Mr Jenkinson, a related party, is a 50% shareholder in both SBPL 
and AHS.  The acquisition brings the management and execution of all existing 
AHS supply contracts to SBPL and represents an immediate leading position in a 
new market for SBPL. 
 
Commenting on the acquisition, Stobart Group CEO, Andrew Tinkler, said: "This 
acquisition represents contracts for over 150,000 tonnes per year of biomass 
supply to the rapidly growing renewable heat market, and provides SBPL with a 
leading position in a new market. Thanks to progressive corporate policies and 
Governmental support, this is a market at the tipping point of massive potential 
growth, and the acquisition of AHS positions SBPL to grow strategically with the 
sector." 
 
 
Ends 
 
 
About SBPL 
SBPL sources and distributes supplies of biomass fuel to the UK renewable energy 
market, leveraging the strong relationships between A.W. Jenkinson Forest 
Products - the biomass supply and distribution market leader - with its network 
of customer biomass power facilities.  Access to Stobart's logistics network and 
brand strength provides substantial strategic advantage to SBPL, and brings 
improved efficiency to the complex biomass logistics and supply chain, which is 
a major component of the cost base for renewable fuels. 
 
Finite UK supply and infrastructure means that imported wood and other biomass 
products are likely to become a significant source of raw material going 
forward, leading to substantial synergies between SBPL and Stobart Group, which 
will help support the core Group business through its Stobart Rail, Stobart 
Ports, Stobart Air and Eddie Stobart divisions. 
 
 
About Stobart Group 
Stobart Group is listed on the London Stock Exchange in the FTSE250 (LSE:STOB), 
and is the UK leader in multimodal transport and logistics solutions.  It is one 
of the most recognised and strongest brands in Britain, best known for its 
iconic Eddie Stobart trucks. Today, Eddie Stobart is the name behind a road 
haulage fleet totaling 1,850 trucks and some seven million square feet of 
cutting-edge warehousing facilities.  By size, Eddie Stobart has the best 
vehicle utilisation in the industry, helping to maximise efficiency and 
environmental benefits. 
 
 
The Group has pioneered several environmental initiatives in the industry such 
as modal shift from road to rail with the Stobart Rail low-carbon service that 
brings fresh produce into the UK from southern Europe via the Channel Tunnel. 
Stobart is also innovating with the creation of Stobart Biomass Products 
Limited, a new venture with A. W. Jenkinson - the UK leader in biomass fuels. 
This positions the Group at the heart of the fast growing and transport 
intensive market for renewable energy. 
 
Stobart Group employs over 5,000 people in 40 different locations, offering 
multimodal logistics solutions to customers across Europe through the Stobart 
Rail, Stobart Ports, Stobart Air and Eddie Stobart Divisions. The Group is fast 
developing these divisions into industry leaders, and by developing assets such 
as London Southend Airport, Carlisle Lake District Airport and Mersey Multimodal 
Gateway in Widnes is creating new business for the Group's core transport and 
logistics operations. 
 
www.stobartgroup.com 
 
 
Further information contact: 
 
James Andrew            07772 534 985 
 
Britt Keay                    07545 078 023 
 
Ben Whawell               01925 605 400 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQKKPDDCBKDKOD 
 

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