News
Cashbox PLC is appointed sole supplier of ATMs to Motor Fuels Group
02 February 2007Cashbox PLC (AIM:CBOX), the independent ATM deployer and operator, is set to enjoy further growth in its ATM estate as it announces being appointed sole supplier of ATMs to Motor Fuel Group, the Middlesex based independent operator of Petrol Service Stations. This announcement comes following a competitive selection process from various ATM suppliers.
The contract will initially see Cashbox deploying ATMs in 15 sites with the potential for a further 25 sites to follow.
Through its partnership agreements Cashbox now has over 29,000 sites where it can assess the viability of installing an ATM machine, many of those on an exclusive basis. The Company, which is purely focused on the UK market, carries out detailed research on each site before committing to installation to ensure that it meets the relevant criteria to achieve profitability.
The ATMs will be placed using Cashbox's Placement Model, whereby a convenience-fee ATM is placed with a retailer free of charge and replenished by them, eliminating the need for third party cash-handling costs. Each ATM is then treated as an individual entity, with Cashbox monitoring performance and ensuring that the retailer is fully trained and supported in its use.
Carl Thomas, Chief Executive of Cashbox PLC, said:
"With our industry leading levels of service and zero financial risk for our customers, Cashbox has quickly become the leading independent ATM provider of choice. Recent contract wins show that our product and service offering is not only customer focused but opens up opportunities to sites within sectors which previously may not have been able to sustain and benefit from having an ATM on site."
S G Sejpal, Managing Director of Motor Fuels Group. commented:
"The outstanding service levels and 24/7 help desk service and superior product offered by Cashbox means that our customers will now be able to enjoy the added convenience of access to cash when they visit our sites.."
Enquiries:
Jeremy Porter Jonathan Wright
Seymour Pierce Ltd
020 7107 8000
Notes to Editors
Cashbox plc
Cashbox is a leading independent ATM deployer (IAD) with an estate of over 1,000 ATMs in locations around the UK. Cashbox installs and operates an estate of ATMs, typically on five to seven year contracts, at sites throughout the UK where there is a demand for cash withdrawal services and where customers are willing to pay a convenience fee.
Cashbox was granted membership of LINK in March 2004, allowing Cashbox to incorporate its ATMs in the LINK network. Cashbox also has a Bank of England settlement account and became the first IAD in the UK to become completely compliant with the Triple DES security standard in June 2004.
The Company intends that the majority of new installations will use the Placement Model, whereby the ATM is purchased by Cashbox under lease hire, placed with the merchant and replenished by the merchant, eliminating the need for third party cash handling costs.
The Company listed on AIM in March 2006.
Palmer & Harvey McLane
The P&H Group is the UK's number one delivered wholesaler for both the independent and multiple retail trade with complete nationwide distribution facilities. Widely considered as the one-stop shop in retail, the service doesn't end at delivery alone - the P&H Group can provide a complete package to suit every business.
- 870 vehicles making 55,000 deliveries per week
- 61,000 customers rely on P&H
- The UK's 3rd largest private company
- 9,000 product lines
- 28% share of total Tobacco market (54% of the multiples)
- 14% share of total Confectionery market
- 28% share of total Ice Cream market
- 79% of multiple Off Licences are delivered by P&H
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