Article date: 28 November 2008
Aviva plc ("Aviva") today announces that it has agreed to sell RAC Auto Windscreens Limited ("RAC Auto Windscreens") to Arques Industries AG. The gross assets of the business, which is a leading supplier of auto glass repair and replace services, totalled £40 million as at 30 September 2008.
Aviva acquired RAC Auto Windscreens - which operates a network of around 100 fitting centres and 700 mobile units - as part of the purchase of RAC plc in 2005. The business services a wide-range of clients including market leading insurers, insurance brokers and fleets.
Aviva's UK general insurance CEO, Igal Mayer, said: "This sale is part of our on-going programme to transform our UK general insurance business through an increased focus on our core insurance and vehicle breakdown activities, allowing us to provide a first-rate service to our customers. I'm delighted that we'll continue to have a working relationship with RAC Auto Windscreens in the future through a long-term contract to supply glass to Aviva's UK general insurance business."
The deal is expected to complete by the end of the year.
Vanessa Rhodes, senior group media relations manager
+44 (0)20 7662 2482
Sue Winston, head of media relations
+44 (0)20 7662 8221
James Murgatroyd/Ed Simpkins, Finsbury
+44 (0)20 7251 3801
Charles Barrows, investor relations director
+44 (0)20 7662 8115
Jessie Burrows, head of investor relations
+44 (0)20 7662 2111
Susie Yeoh, investor relations manager
+44 (0)20 7662 2117
Notes to editors:
- Aviva is the leading provider of life and pension products in Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2007.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £49.2 billion at 31 December 2007 and funds under management of £359 billion at 30 June 2008.
- The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
- For broadcast-standard video, please visit www.thenewsmarket.com/aviva.
- Auto Windscreens has a national call centre and in-house manufacturing facility based in Chesterfield.