Spotless spends up

Spotless says the purchase of Braitrim Holdings, a leading supplier of garment handling and packaging systems, was finalised at the end of last week.

"The inclusion of Braitrim's business will more than double the worldwide turnover of Spotless Plastics division," the company says in a statement.

"Combined sales revenues for the first full year of operations could exceed $A500 million."

The acquisition is expected to have little impact on Spotless Group's 2001 profit results before goodwill amortisation.

Braitrim has offices and warehouses in several European countries including Germany and France as well as in North Africa, the Middle East and several Asian countries including Hong Kong, Sri Lanka, Thailand and Singapore.

Revenues for 2000 were A$230 million.

Last week Taylors announced a $6 million purchase of an Auckland-based laundry company.

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