13 January 2013 – contract win
The company has announced that it has been reappointed by the Eastern Shires Purchasing Organisation and the Central Buying Consortium to supply a wide range of products under a two year Framework Agreement, with the option to extend for a further two years. Straight expects to generate at least £4m of revenue per year from this source, in line with recent levels achieved. Of 18 possible lots, Straight bid for a total of 14 and secured a position on all of these, meaning Straight have the largest product range on the framework. Products to be supplied include all of Straight’s core product range, including plastic wheeled bins, steel wheeled bins, food waste caddies and kerbside collection boxes as well as its two new products, the 3BoxStack and the Food Waste Inner Caddy. The company holds joint supplier status on each lot except providing a Totally Managed Solution for Compost Bins where the it is sole supplier.
As of 1 November 2013 the company has also been reappointed by Scotland Excel, the Centre of Procurement Expertise for Scotland’s local government sector. The four year Framework Agreement involves joint supplier status for wheeled bins in plastic and steel, food waste caddies and kerbside boxes. As a whole this is estimated to be worth between £32m and £40m. The share price has moved up on the back of the news but we still believe that it represents GOOD VALUE.