UGL Services, which represents about a quarter of the UGL Group’s total business, recorded a first half 2012 revenue increase of just 2 percent to $677.8 million while delivering EBIT of $34.4 million. Excluding DTZ, UGL Services’ revenue growth was flat relative to the previous corresponding period, largely the result of subdued macroeconomic conditions in the US impacting transaction volumes [...]
“Spotless is experiencing sustained demand for outsourcing in key sectors and the Facility Services business delivered a strong financial result. There were lower mobilisation and start-up costs incurred during the period and the demand for the integrated services offering grew,” stated Spotless CEO Josef Farnik when delivering the company’s half year to December report. Spotless’ Australia/New Zealand Facility Services revenue, [...]
The United States’ Restoration Industry Association (RIA) and The Clean Trust boards have approved a memorandum of understanding (MOU) that will establish a working relationship between both organisations. Under the MOU, each organisation’s senior executive leadership will keep the other aware of applicable functions and activities related to natural disaster mitigation measures, indoor environmental issues and other issues of shared [...]
A just debuted executive overview, backed by peer-reviewed research, highlights the health benefits of carpeting. It shows carpet serves as a filter to reduce allergens and improve indoor air quality. Published at the recently held International Conferences on Indoor Air and Climate (ISIAQ), the full-colour overview delivered by Racine Industries showcases studies which reveal that carpeting maintained using Racine’s dry [...]
Saying it’s in the best interests of all shareholders to minimise the ‘period of disruption’, Spotless yesterday announced that it had agreed terms with PEP based on which it intends to provide PEP non-exclusive due diligence. ‘Spotless advised PEP on 9thJanuary 2012 that, in the current circumstances, the lowest price at which the Spotless Board would be willing to unanimously [...]
ISSA/INTERCLEAN Show, 8 to 11 May 2012, Amsterdam ISSA/INTERCLEAN Amsterdam 2012 will present a number of educational and highly topical seminars, notably focusing on world hygiene issues and the need to train suitably skilled operators. As well as offering an opportunity to learn from international experts, the seminars will be complemented with roundtable sessions ‘to discuss the subjects with like-minded [...]
A number of ‘like-minded’ US associations within the cleaning and restoration segment have created the Inspection, Cleaning and Restoration Association (ICRA). Its remit is ‘to work towards the common goal of improving service and education for their members. ‘The concept of creating an organisation like the ICRA has been discussed for quite some time, and is now becoming a reality. ICRA will [...]
According to a report in today’s The Australian Business pages by James Frost, United Voice ‘has blasted the management of Spotless, the target of a $711 million takeover bid, for being arrogant and said it would rather work with private equity than the existing owners. “Spotless is floundering and in need of a shake-up,” Michael Crosby of United Voice is [...]
A US survey conducted for The Sustainability Dashboard, a web-based system that helps organisations measure and monitor their use of fuel, water, energy, etc., has found that 43 percent of facility managers and cleaning professionals would pay more for products made by a company that practices sustainability.* However, 28 percent of respondents indicated they would not pay more and 30 [...]
Today’s Sydney Morning Herald’s BusinessDay (www.smh.com.au) has reported that ‘the private equity firm interested in buying Spotless Group says it is unable to increase its offer without access to the Spotless books. But Spotless wants Pacific Equity Partners to increase its indicative offer before allowing access.’ PEP has offered $2.68 for each Spotless share, valuing Spotless at about $711 million. [...]
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