2nd Oct 2007 07:01
Nationwide Accident Repair Srvs PLC02 October 2007 NARS.L NATIONWIDE ACCIDENT REPAIR SERVICES PLC ("Nationwide" or "the Company") Acquisition of Additional Bodyshop in Matlock Nationwide, the largest dedicated provider of automotive crash repair servicesin the UK, is pleased to announce that it has completed the acquisition of abodyshop located in Matlock, Derbyshire. This site takes the total number of bodyshops in the Nationwide network to 68and provides the Company with increased capacity in the Midlands to support therecent contract wins with Norwich Union and Hastings Direct. The acquisition is in line with Nationwide's strategy to grow the business bothorganically and via acquisition. The Company is also in continuing negotiationsfor the purchase of additional sites. Commenting on the acquisition, Michael Wilmshurst, Chief Executive, said, "I believe that the Matlock site represents an excellent fit with our currentnetwork and I am delighted to welcome the team on board. Our sector is undergoing considerable consolidation and Nationwide is wellplaced, as the largest dedicated provider of crash repair services, tocapitalise on this opportunity. We continue to look for further bodyshops whichfit our strategy to deploy work across Nationwide's network of bodyshops in away which allows for maximum efficiency and cost effectiveness." Enquiries: Nationwide Michael Wilmshurst, Chief Executive T: 01993 701 720Accident Repair David Loftus, Finance DirectorServices plc Biddicks Katie Tzouliadis T: 020 7448 1000 Arbuthnot Alasdair Younie T: 020 7012 2000Securities This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NARS.L