Stobart Group has sold its automotive after-sales division, Stobart Vehicle Services, to Paragon Group for an undisclosed sum. The division, which was part of Autologic prior to its purchase by Stobart in August 2012, provides car manufacturers and dealerships with services ranging from new car preparation to customisation. As part of the deal Paragon will take on former Autologic sites in Corby, Portbury, Doncaster and five manufacturer locations and said it would be “welcoming 500 new staff”. The division will […]
The tale of Stobart’s ever falling share price. Two weeks ago, in the wake of Avril Palmer-Baunack’s unceremonious demotion, this column wrote about the woes of backing the Stobart horse. Even the gloss of a three-year deal with Tesco couldn’t reverse it’s fortunes (and given Tesco’s current performance there can’t be that much gloss). However the machinations of the Stobart board have continued to hurt its performance on the stock market.
Stobart Group and A.W. Jenkinson Forest Products have struck a second joint procurement deal with Scania to take delivery of a combined 1,000 trucks over the next two years. Between March 2012 and December 2013 Stobart and A.W. Jenkinson will take a mixture of R-series and G-series models. The first 300 will enter service this year with 700 more entering both fleets ahead of the introduction of Euro-6 on 31 December 2013. The deal replicates one struck in January 2010, […]
A lot has happened in the two weeks since the last MT Tracker, and today the government has revealed that it will begin selling shares in post and parcel operator Royal Mail within the next few weeks, adding another transport name to the companies listed on the London Stock Exchange.