Bunzl Proposes Filtrona Demerger

Go Back----Trucking Jobs by State

2/28/2005 - Bunzl plc announced today the proposed demerger of Filtrona in June 2005 from the Group. This demerger will also include Bunzl Extrusion. Commenting on today's announcement, Pat larmon, President/CEO of Bunzl Distribution, said:

"This is a great long term strategic move for the company, and one that is well received by the investment community. This will allow our company to devote all of our resources toward expanding our global presence in the Outsourcing Services segment."

As a result of the demerger, Tony Habgood, now CEO and Chairman, will retain the position of Chairman of the Board. Christoph Sander will assume the role of Chief Executive Officer of the new Bunzl plc, and will be responsible for the day to day activities. Pat Larmon will report to Christoph and along with David Williams, the three will continue as executive directors of Bunzl plc.

"This is a positive move for the company and I will support Christoph in any way I can. He is extremely qualified for this role as he has been very successful managing Bunzl Outsourcing Europe and Australasia for many years. Tony has been very supportive and a tremendous CEO, and I will miss the regular contact with Tony," comments Pat Larmon.

Go Back----Trucking Jobs by State