STT Straight

 

TIDMSTT 
 
RNS Number : 4114N 
Straight PLC 
17 February 2009 
 

Date:17 February 2009 
On behalf of:Straight plc ("Straight" or "the Group") 
 
 
 
 
Straight plc 
Response to end of WRAP home compost programme in England 
 
 
In response to news that WRAP, the government funded Waste & Resources Action 
Programme, is terminating early its scheme to supply home compost bins to local 
Council's in England, Jonathan Straight CEO of Straight plc (AIM: STT), the 
recycling products and services group made the following statement: 
 
 
"During the last five years, WRAP has helped double the UK market for compost 
bins through its home composting programme with local councils. However, during 
2008, WRAP experienced a dramatic drop off in sales as reduced government 
funding required it to increase its prices. As a result, it has announced that 
the scheme will cease from the end of September 2009 rather than March 2011, as 
was originally intended. 
 
"Whist this news was expected in 2011, we believe that now is the right point in 
time for WRAP to stop supplying compost bins to councils and as such we welcome 
this news. We are also confident that the market, and in particular Straight 
plc, will be able to fill the space left by WRAP and supply local councils more 
competitively. 
 
 
"We have supplied more than half of the compost bins used in the WRAP campaign 
since it started and our home delivery programme, on which the initial WRAP 
campaign was modelled, does mean  that we are well placed to immediately offer 
Councils in England a virtually identical programme to WRAP. 
 
 
"Prior to WRAP's formation in 2003, Straight and its subsidiary Blackwall ran 
successful campaigns with almost every council in the UK which were gradually 
taken over by WRAP using products and support services provided by Straight. 
 
 
"This development further validates the decision taken at the time of the 
Board's recent strategic review to retain a rationalised retail capacity within 
the Group. We have in place the capability to meet the demand arising from 
WRAP's former customers without the need for further expense and are confident 
that this development will provide a substantial opportunity for the Group going 
forward." 
 
 
 
 
 
 
  For further information, please contact 
 
 
+-----------------------------------------------+---------------------------+ 
| Straight plc                                  |                           | 
+-----------------------------------------------+---------------------------+ 
| James Newman, Chairman                        | 07850 672 727             | 
| Jonathan Straight, Chief Executive            | 0113 245 2244             | 
+-----------------------------------------------+---------------------------+ 
|                                               |                           | 
+-----------------------------------------------+---------------------------+ 
| Panmure Gordon                                |                           | 
+-----------------------------------------------+---------------------------+ 
| Andrew Godber / Katherine Roe                 | 0207 459 3600             | 
+-----------------------------------------------+---------------------------+ 
|                                               |                           | 
+-----------------------------------------------+---------------------------+ 
| Redleaf Communications                        | straight@redleafpr.com    | 
+-----------------------------------------------+---------------------------+ 
| Paul Dulieu / Sam Robbins                     | 0207 566 6700             | 
+-----------------------------------------------+---------------------------+ 
 
 
 
 
  Notes to Editors 
 
 
  *  Straight plc was established in 1993, by Jonathan Straight, to supply container 
  solutions for source separated waste. Initially one man and a desk, the company 
  grew to become the UK's leading supplier of kerbside recycling boxes as well as 
  a key supplier of other types of waste and recycling container solutions. 
 
 
 
  *  Following sustained growth, Straight joined AIM in 2003 with a view to fuelling 
  further growth. 
 
 
 
  *  In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of home 
  composters and water butts. Since integrating the two businesses, Straight now 
  provides a wide range of waste and recycling solutions to local authorities, the 
  waste industry and general businesses. Through the Blackwall brand Straight 
  delivers environmental garden products directly to end users in partnership with 
  local authorities and utilities. 
 
 
 
  *  Further information about the company and its products can be found at: 
  www.straight.co.uk 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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