TDG grows
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TWO UNITED STATES West Coast companies have joined the Transport Development Group's growing activities there in a £3.6m deal.
TDG has paid approximately $5m (£3.6m) for a 74 per cent share in Portland, Oregon-based Market Industries, which has two haulage companies, Market Transport and United Express.
They serve the major cities of Seattle, Portland, San Francisco and Los Angeles, and have begun to spread their activities into Phoenix in the South and Salt Lake City and Denver in the East. In total, they have authority to serve 11 western states.
Market founder and chief executive Peter Stott remains a shareholder and has signed a five-year service contract with TDG.
• North American Van Lines, one of the two transport subsidiaries of the Pepsico soft drinks conglomerate, has been sold to an American railway company, Norfolk Southern.
The $315m (£225m) rids Pepsico of one of two companies in the transport sector. Neither National Freight nor the Transport Development Group expressed interest in buying NAVL or Lee Way Motor Freight, the other company, when they were offered for sale (CM March 10).