18th May 2010 07:00
NARS
18 May 2010
NATIONWIDE ACCIDENT REPAIR SERVICES PLC
("Nationwide" or "the Company")
Announces
Acquisition of Additional Bodyshop in Newcastle-upon-Tyne
Nationwide, the largest dedicated provider of automotive crash repair services in the UK, is pleased to announce that it has completed the acquisition of a bodyshop in Newcastle-upon-Tyne.
The modern, leasehold site comprises 15,000 sq.ft. in total and will offer vehicle repair services to insurers, fleet operators and retail customers. Its addition significantly extends Nationwide's repair capacity in the North East region. Currently, the Company operates a site in Middlesbrough as well as an RSA dedicated site in Gateshead. The acquisition is in line with Nationwide's strategy to add further repair capacity where demand has been identified.
Management will be implementing Nationwide's IT platform and workflow processes at the site and expects the site to become fully operational by the end of May. The acquisition brings Nationwide's total number of operational sites to 73.
Commenting on the acquisition, Michael Wilmshurst, Chief Executive, said,
"I am delighted to announce this acquisition. Having identified customer demand in the Newcastle-upon-Tyne area, we have been looking to acquire additional capacity and this modern site represents a highly complementary fit. As well as providing us with capacity to fulfil insurance customer demand, we will also be offering our services to fleet operators and retail customers in the area. As we expand our customer base, we continue to focus on delivering "quality, value, speed and service" in all of the markets in which we operate."
Enquiries:
Nationwide Accident Repair Services plc |
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Michael Wilmshurst, Chief Executive David Loftus, Finance Director |
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T: 01993 701 720 |
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Biddicks |
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Katie Tzouliadis/ Sophie Lane |
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T: 020 7448 1000 |
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Arbuthnot Securities |
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James Steel/ Ben Wells |
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T: 020 7012 2000 |
About Nationwide Repair Services plc
Nationwide provides automotive crash repair and accident administration services to the UK insurance industry. With a network of accident repair centres in England, Scotland and Wales employing over 2,200 people, it is the largest dedicated provider of accident repair services in the UK.
Nationwide's accident administration services, provided to insurers, insurance brokers and affinity groups, encompass full claims management, engineering services, emergency and roadside assistance as well as vehicle repair services and total loss management.
In the summer, the Company will be launching a mobile repair service (Mobile Restore) which will enable light vehicle repair jobs to be undertaken at a location of the customer's choice. This service will be available to consumers and fleet operators as well as to motor insurers.
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