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Brambles to spend $110 mln on pallets, CEO retires



06 October 2009 @ 02:29 pm AEST

MELBOURNE, Oct 6 (Reuters) - Australia's Brambles Ltd, the world's top pallet supplier, said it plans to spend $110 million over three years to improve its pallets to attract more U.S. customers.

The upgrade follows a review of its CHEP USA business, which operates in a $10 billion market.

It added that its chief executive, Mike Ihlein, would retire in November, and would be replaced by Tom Gorman, currently head of the European arm of CHEP. (Reporting by Sonali Paul; Editing by Jonathan Standing)

Copyright 2009 Thomson Reuters. All rights reserved.

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