Former Autologic chief executive Avril Palmer-Baunack has been appointed as deputy chief executive of Stobart Group. Palmer-Baunack also joins the board of directors at Stobart, which completed its acquisition of car transporter giant Autologic last month. Former deputy chief executive Richard Butcher becomes chief executive for Stobart’s property business At the same time William Stobart has re-joined the board of directors at the firm after he stepped down in March 2011. Rodney Baker-Bates, non-executive chairman of Stobart, said: ” With […]
Autologic is in talks with Stobart Group over a potential cash offer by the Cumbrian giant for the number one operator in UK automotive logistics. The Northampton-based operator, which revealed a turnover of £144.7m and a pre-tax profit of £2.1m for the year ending 31 December last month, says that there is “no certainty that an offer for the company will be made or proposed”. Stobart is required to either announce a firm intention to buy Autologic, or withdraw its […]
Stobart Group has said a £25m windfall generated by a property sale this month will be held in cash pending reinvestment or used to repay debt.
BCA Automotive, formerly Stobart Automotive, is now responsible for one in five finished vehicle movements in the UK, according to a statement issued to investors today.