Recall Enters Agreement to Sell Germany Secure Destruction Services Business
September 03 2014 - 8:47AM
Business Wire
Recall Germany Focused on Growing Document
Management Solutions, Data Protection Services and Digital
Recall Holdings Limited (ASX: REC), a global leader in
information management solutions, today announced that it has
entered into an agreement to sell its Germany Secure Destruction
Services (SDS) business to Rhenus Data Office GmbH. The sale is
subject to final regulatory approval from the German competition
regulator (Federal Cartel Office), and is anticipated to close
later this calendar year.
The sale, which represents a modest gain for Recall, will reduce
full year revenue by approximately US$13.5 million, but is expected
to be earnings accretive in FY15, assuming the transaction is
closed within 1Q FY15. Following the transaction, Recall’s total
depreciation and amortization expense in FY15 is expected to be
approximately US $75M, which includes increased depreciation from
capital spending and amortization of acquisitions and customer
perm-out fees.
As reported in Recall’s FY14 earnings release, Recall conducted
a strategic review of its SDS business and announced its intention
to sell the Germany SDS business. Going forward, Recall will
continue to focus on growing its Document Management Solutions
(DMS), Data Protection Services (DPS) and digital businesses across
the German markets.
About Recall
Recall is a global leader in information management solutions,
offering customers complete management of their physical and
digital information. Recall’s innovative solutions empower
organizations to make better business decisions throughout the
information lifecycle, while assuring regulatory compliance and
eliminating unnecessary resources, time and costs. Recall services
more than 80,000 customer accounts in over 300 dedicated
facilities, spanning five continents in 24 countries. For more
information, please visit recall.com.
About Rhenus
The Rhenus Group provides logistics services around the globe
and has annual turnover amounting to EUR 4.1 billion. Rhenus
employs over 24,000 people at more than 390 locations worldwide.
The Rhenus business areas – Contract Logistics, Freight Logistics,
Port Logistics and Public Transport – manage complex supply chains
and provide a wealth of innovative value- added services. For more
information, please visit rhenus.com
For further information, please contact:RecallInvestor
RelationsBill Frith, +61 2 9582 0244Senior Director, Investor
RelationsBill.Frith@recall.comorUS Media enquiriesMSLGROUPDavid
Sprague or Amanda Fountain, +1-781-684-0770Recall@mslgroup.com
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