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TRE - Trencor Limited - Trencor`s Textainer to acquire containers from Buss

Release Date: 17/05/2011 10:20
Code(s): TRE
Wrap Text

TRE - Trencor Limited - Trencor`s Textainer to acquire containers from Buss Global TRENCOR LIMITED (Incorporated in the Republic of South Africa) (Registration No 1955/002869/06) Share Code: TRE ISIN: ZAE000007506 ("Trencor") TRENCOR`S TEXTAINER TO ACQUIRE CONTAINERS FROM BUSS GLOBAL We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 60,9% beneficiary interest: "May 16, 2011 Hamilton, Bermuda -- (Business Wire) -- Textainer Group Holdings Limited (NYSE: TGH) ("Textainer", the "Company", "we" and "our"), the world`s largest lessor of intermodal containers based on fleet size, today announced that Textainer has purchased approximately 171,000 TEU of containers and related lease rights and working capital that it has been managing for Buss Global Container Fonds 1 Partnership ("Buss Global") since 2006. The transaction, which has an effective date of May 1, 2011, was closed today for a total purchase price of approximately $174 million. The majority of the Buss Global fleet consists of dry freight containers and the purchase increased the percentage of Textainer`s owned fleet from 52% of its total fleet at the end of March 2011 to 59% today. "We are pleased to once again take advantage of opportunities presented by the current industry fundamentals and enter into another accretive transaction for our shareholders," stated John A. Maccarone, President and CEO of Textainer. "While managing containers provides distinct benefits, container ownership is typically more profitable. By purchasing approximately 171,000 TEU of containers, we will increase the owned portion of our fleet, positioning us to further increase our profitability. We intend to continue to utilize our strong financial flexibility to take advantage of similar opportunities that allow us to grow the owned portion of our fleet," commented Mr. Maccarone. Textainer Group Holdings Limited Mr. Tom Gallo, 415-658-8227 Investor Relations Director ir@textainer.com" Cape Town 17 May 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) www.trencor.net Date: 17/05/2011 10:20:03 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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