13th Feb 2007 12:00
Lonrho Africa PLC13 February 2007 LONRHO AFRICA PLC ("Lonrho") NORSE AIR LIMITED AWARDED ANGLOGOLD ASHANTI CONTRACT Lonrho Africa is pleased to announce that Norse Air Limited ("Norse Air" or "theCompany") has landed its largest contract to date providing AngloGold Ashantiwith a Boeing 737 Quick Change ("QC") to transport passengers and cargo for theAngloGold Ghana and Mali mines. The contract has an annualised value of US$10m,which will increase the Company's turnover by more than 50%. Lonrho acquired 43per cent of the issued ordinary share capital of Norse Air for a total cashconsideration of US$6 million in November 2006. AngloGold Ashanti Limited is a global gold producer with 21 operations on fourcontinents including a substantial project pipeline and an extensive, worldwideexploration program. The company is listed on the New York, Johannesburg,Ghanaian, London and Australian Stock Exchanges, as well as the Paris andBrussels Bourses. AngloGold Ashanti selected Norse Air to provide this serviceafter an extensive and rigorous selection process because it offered the mostflexible and cost efficient solution and has considerable experience in Ghanaand Mali. Norse Air will provide an extremely flexible aviation solution for the movementof passengers and cargo between South Africa, Ghana and Mali. The QC aircraft isadaptable and can combine the movement of passengers and cargo due to itspassenger seats which sit on pallets. The aircraft will be configured for 68business class seats offering a comfortable flight experience for thepassengers. Norse Air is a well-established private aviation business whose activitiesinclude Charter and Freight Services, Leasing, Sales and Maintenance. Itsoperations are based primarily in Mauritius and South Africa and also extend toAfghanistan, Ivory Coast, Ghana, Madagascar, Mali, Mozambique and Singapore. TheCompany has long-standing relationships with Governmental and Non-GovernmentalOrganisations, as well as international businesses. It has successfully operatedaircraft for the United Nations, the World Food Programme, the International RedCross and other Non-Governmental Organisations, often under hostileenvironmental conditions. Commenting on the contract, David Lenigas, Joint Executive Chairman and ChiefExecutive of Lonrho said:"This contract affirms our decision to invest in NorseAir, and opens up new opportunities to address the increasing demand forreliable cargo and passenger air travel across the African continent, as well asfrom Africa to other global destinations." "With the win of this contract and the acquisition of additional aircraft, NorseAir is becoming one of the fastest growing and most capable operators in theAfrican passenger and cargo charter market," added Mr. Lenigas. The Boeing 737 QC will also be utilised in Norse Air's charter operations tobolster its current fleet. In the Russian aircraft category, Norse has leased anIL76 to service existing South African Defense & African Union contracts and tooffer a dedicated service to the growing demand of outsized cargo from SouthAfrica to the rest of Africa. Norse Air has also recently acquired a GulfstreamIII which will form part of the Company's growing charter fleet. End For further information, please contact: Lonrho Africa Plc +44 (020) 7016 5105David Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177 Strand Partners Limited +44 (0)20 7409 3494Simon RaggettMatthew Chandler Cardew Group +44 (0)20 7930 0777Nadja Vetter +44 (0)7941 340 436Eden Mendel +44 (0)7887 676 603Emma Consett +44 (0)7971 468 308 Notes to Editors Lonrho is in the process of re-establishing a significant presence on theAfrican continent. Its investment and acquisition strategy, which was adoptedfollowing the appointment of David Lenigas as Chairman and Chief Executive andsubsequent shareholder approval in February 2006, focuses on the naturalresources, infrastructure, leisure and agribusiness sectors. Lonrho's executiveteam has considerable experience across these industries in a wide range ofcountries. This year, Lonrho has announced investments in Brinkley Mining Plc,Nare Diamonds Ltd, Luba Freeport, Norse Air and Fly540. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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