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national network of depots. Key markets include lifting and material handling, power generation,c ompresseda ir, lightingt owers,p ortablea ccommodations, urveying instrumentsa nd pumpinge quipment.I n 2007, this aspecto f the businessa ccountedf or 48% of total revenue, 59% of total assets and 61% of total capital expenditure. Speedy Hire has grownr apidlyt hroughb oth organicg roMh and acquisitionsm, akingi t the premierp layeri n the difficult ool hire market.T wo importanta cquisitionsw ere announcedi n the equipmendt ivisionL: CH GeneratorsL imited( LCH)i n May 2006,a nd Lifting Gear Hire Limited in October 2006 (see Appendix Nine, Mergers and Acquisitions). AppendixT en, The Officeo f FairT radingR eport,p rovidesb ackgroundi nformationo n the acquisitiono f the tool hired ivisiono f HewdenS tuartP lc in August 2007 by SpeedyH ire. All of these acquisitionsh ave contributeds ignificantlyto the rapidg roMh of Speedy Hire'sb usiness.T he structureo f SpeedyH ire is shown in Diagram6 . Page 16 Diagram 6: Structure of Speedy Hire :1 r d i{i :: 9..,."" ...*_.* ! : . 1 : . . . . . " 1 : r . - . * I:'ii.:r,:*.i.i'l1.''i itc,' t]iI t,:rI i i-li i.;* ttLl lrl r-:,.rltli ,.t SourceS: peedyH ire Values SpeedyH ireh asp ublishead statemenot f itsc orporatvea luesT hesea re: . lntegrityT:o be opena ndh onesitn allo urd ealingsa,n dd elivevr aluet o our stakeholdetrhsr oughh ighe thicasl tandards . SafetyT. o be committetdo promotinga safea ndh ealthyc ulturefo ro ur customeras nde mployees . SocraI r esponsibilitTyo. be mindfuol f the communitieisn whichw e operatea nd ouri mpacot n thee nvironment . Reputation:Tboe committetdo maintaininagn db uildingu pono urr eputatioann d brand . PeoPleT: o endeavoutro employt he bests taff,e ncouragaen d supporth eir developmenatn dr ewardw ellf or successa ndl oyaltyth roughw, herevepr ossible, a structureo f devolvedre sponsibility . CommitmenTt.o workh ardt o maintaino ur' cand o' culturew, hichi s oneo f the fundamentarel asonsfo ro urs uccess. Market Oneo f the company'gs reatesst trengthsa ppearsto be itsa bilityto closelym onitor marketc hangesa ndf lexiblya pplyr esourcesin responseto regionavl ariationsin economica ctivityT. hes trengtho f the nationanl etworkm eanst hatt he companyc an mover esourcesb etweenr egionst,o targeta reaso f strongd emand.lt is difficulto estimateth e sizeo f them arkefto rt oolh ire;h owevers, omea nalysisb y SpeedyH ire indicatesth att het otalm arkest izem ayb e overf 3bn, witht het en majorp layers commandinagr ounda f 1. 6bns hareo f the marke(t seeA ppendiEx leven). *s* ,t i. ii !XF. Page'17 The company'sa nnualt urnoveri s now in the regiono f f340m and is expectedt o be around f440m nexty ear. lt experienced2 8% growthi n an industryt hat generally |
