Stobart Group’s Biomass division has won a new, long-term contract to supply fuel to the Evermore Renewable Energy Plant, which will generate revenues of £75m over the 15-year lifespan of the contract. The recycled wood fuelled combined heat and power station in Northern Ireland will open in summer 2015, with Stobart Biomass set to deliver 115,000 tonnes of recycled wood per annum over the duration of the contract. Stobart Group chief executive Andrew Tinkler said: “Stobart Biomass is seeing increased […]
Stobart Group’s Biomass division has won a contract to supply up to 1 million tonnes of biomass fuel per year to Greensphere Capital, to feed its existing and future power plants.
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 […]
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 […]