Stobart is still restructuring the former Innovate business it acquired out of administration in 2008 – a process that has been “more challenging, costly and further reaching than first planned”. The admission came as Stobart Group revealed profit rose 10% at its transport and distribution division (Eddie Stobart) to £14.2m in the first six months ended 31 August. This was despite a 5.6% fall in turnover to £251.1m. “We have improved our margins in [Eddie Stobart] through more effective financial […]
MT Top 100 company Seafield Logistics has been placed into administration.
European chemical transport giant Hoyer has acquired the bulk liquid division of Dutch logistics company De Rijke. The deal sees Hoyer take on 240 employees at five De Rijke offices, including its site in Preston Brook, Cheshire. Across Europe Hoyer will add to its operations: 1,500 tanker containers, 130 tractors and 300 tanker trailers and chassis. Günter-Friedrich Maas, head of the Chemilog business unit at Hoyer, said: “We will be gaining market share, particularly in our relations to and from […]
Tesco is to merge with wholesaler Booker in a £3.7bn deal that creates one of the largest own-account operations in the UK, and it is targeting cost savings of approximately £61m in its distribution and fulfillment activities.