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Divestment of 20% share in Fishbox results in formation of Boxpal Limited

CHEP, the world’s leading provider of pallet and container pooling solutions, is pleased to announce today the divestment of an initial 20% share in its Fishbox business which serves the Scottish fishing industry. The agreement will see the formation of a new company that will be jointly owned by CHEP and David Morgan, the current General Manager of the Fishbox business, based in Peterhead in North East Scotland.

The new company will be called Boxpal Limited and will start operating from 1st July 2013. Initially, CHEP will retain 80% of the business and this share will reduce to 55% over a three year period. All assets and liabilities of the Fishbox business will transfer into Boxpal Limited which will be a subsidiary of CHEP UK Limited and therefore remain part of the Brambles Group. As such, the new business will continue to operate as CHEP.

As a result of this change, all Fishbox employees will transfer from CHEP UK Limited into Boxpal Limited on the 30th June 2013. This transfer will be protected under TUPE regulations, ensuring employee’s rights and existing terms and conditions are retained.

CHEP’s Fishbox business has grown in recent years, and this expansion has resulted in the refurbishment of its plant washing facility at Upperton near Peterhead, the purchase of a new portable wash machine, and the purchase of new fish boxes to replenish the existing equipment pool. In January 2012 its Upperton site was expanded to allow the inspection, repair and reissue of CHEP pallets to its customer base in the north of Scotland, and the Northern and Western Isles. Previously, this region had been served by CHEP’s Service Centre facility in Grangemouth, near Glasgow, over 150 miles south of Peterhead.

CHEP UK & Ireland, Finance Director, Richard Storah said, "The formation of Boxpal Limited will ensure the required level of investment will continue in both the Fishbox business and the pallet inspection and repair business to enable further growth. We believe this will be beneficial to our employees as well as to the ongoing support of the Scottish Fishing Industry and our pallet customers in the region."

CHEP’s Fishbox business has been operating in Scotland for almost 25 years. Employing over 20 local people, it conducts close to 1 million movements per annum supporting more than 270 trawlers and merchants across the Scottish fishing industry.

NB The term "TUPE" refers to the Transfer of Undertakings (Protection of Employment) regulations 2006 (SI 2006/246). The regulations protect employees when they transfer to a new business or the ownership of the business for which they work changes hands.

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