Eddie Stobart Logistics (ESL) has applied for its shares to be suspended from AIM trading after it failed to publish its half-year results in time. The company has also announced that CEO Alex Laffey is to step down with immediate effect. It is understood that Sebastien Desreumaux, currently CEO of iForce and head of Contract Logistics at Eddie Stobart, has been promoted to group CEO and will join the logistics firm’s board “in due course”. In July, ESL cut its […]
The combination of the £16m sale of its former automotive logistics division and securing a “significant” customer wins towards the end of its last financial year helped Eddie Stobart Logistics generate a £21m surplus, which was used to repay its debt.
Eddie Stobart is to expand its fleet of dual-fuel Volvo trucks, after successfully bidding for a chunk of the government’s Low Carbon Truck Demonstration Scheme funding. Stobart has been testing five dual-fuel FMs, which have been running on Liquid Natural Gas (LNG), in association with partner BOC Group. It will benefit from the expansion of the scheme alongside a field of other operators and suppliers. The additional funding will allow the logistics firm to put at least another 15 LNG […]
Eddie Stobart Logistics – set to float on the Alternative Investment Market (AIM) next week 25 April – has conditionally agreed to acquire multi-channel retail logistics management group iForce for £45m.