Fleet News

Silver Shield earmarks £800,000 for network

WINDSCREEN replacement company Silver Shield is to spend at least £800,000 developing its network of service centres. The company, which also owns Swansea City Football Club, plans to raise more than £2.15 million through a three for two rights issue due to be approved by shareholders on May 21.

Of the cash raised £800,000 will be used to buy back eight windscreen replacement areas which are currently franchised and a further £750,000 could be used to buy additional windscreen franchise areas. The company has approximately 32 franchise areas with at least one depot in each area.

It owns 14 of those franchise areas and the plan to buy the eight - six in Greater London plus Chester and Telford - with the possibility that further areas could be bought from the current franchisee when they become available.

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