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Straight signs big public sector deals

Bins manufacturer Straight has secured two contracts worth over £2m, with others under negotiation.

The Leeds-based company signed a £1.4m deal with Birmingham City Council to supply over 300,000 wheeled bins between May 2014 and November 2015.

The move followed the positive outcome of a trial in 17,000 households, which were provided with Straight’s “Wheeled Bin Inner Caddy”. The bin provides a dual-stream commingled collection, which Birmingham City Council residents will use to collect paper separately.

Straight also entered in a £820,000 contract with Gravesham Borough Council for the supply of a range of products, including food waste containers, wheeled bins and home delivery services.

The two deals were signed under the Eastern Shires Purchasing Organisation (ESPO) framework agreement, a public sector purchasing consortium offering procurement services.

Jonathan Straight, chief executive at Straight plc (above), said: “These wins highlight our market leading expertise in the provision of stellar recycling products and we look forward to maintaining momentum in the year ahead.”

The company said other “significant contracts” were under negotiation.

Revenue and EBITDA (earnings before interest, taxes, depreciation and amortization) were in line with market expectation, it added. Straight is due to announce results on 31 March 2014.

“Our focus remains on profitably growing revenues in all of our diverse markets,” said Jonathan Straight. “Our recent contract wins and future pipeline provide a strong foundation for the year ahead.”

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