Hays DX disposes of Spanish mail services operation
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RNS Number:4730F
Hays PLC
19 June 2001
HAYS DISPOSES OF SPANISH MAIL SERVICES OPERATIONS
Hays plc today announces that it has disposed of Hays DX Express, S.L.
This business provides time critical overnight delivery services in Spain.
It has been purchased from Hays by Capital Original, S.L., a management buy-
out vehicle, for a cash consideration of #500,000. The sale will result in
a book loss of #10 million, including a goodwill write off of #8 million.
Commenting on this disposal, Ronnie Frost, Chairman of Hays plc said:
“The disposal of this loss-making business represents the complete
withdrawal of Hays from the Spanish mail services market. Our successful
Spanish logistics business is unaffected.
“This transaction will allow our Mail Services management team to focus on
the development of its other, profitable operations. Hays Mail Services
will continue to use the services of Capital Original for distribution of
time critical overnight deliveries in Spain. We wish the management and
staff every success in the future.”
For further information, please contact:
Ronnie Frost Hays plc Chairman 01483 302203
Graham Williams Hays plc Executive Director 01483 302203
Corinne Daniels Brunswick 020 7404 5959
Hays(HAS) GB0004161021
C(p) 2.0 C(%) 1.058 C 191.0 B 190.0 O 191.5 H 191.0 L 190.0 Op 190.0 V 385,040 T 8:37:06 A
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