Charles Alexander Sells Interests to T.D.G.
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THE great Scottish transport interests of Charles Alexander and Partners (Transport), Ltd., have been acquired by the Transport . Development Group, Ltd. This brings the number of road transport, warehousing, wharfage, cold storage and lighterage concerns within the
group to a total approaching 50. Mr. Charles Alexander himself will , remain as managing director, and it is significant that Mr. W. Frazer, managing director of the group, is a native of the Scottish Highlands.
Mr. Alexander, at the head of a happy team, first broke the news to his employees lastweek and made the news of the deal public knowledge at the week-end.
He announced that he had accepted a formal offer by the Transport Development Group to acquire the issued share capital of his companies and recommended shareholders to do the same. Mr. Alexander held 25,450 beneficial shares in addition to a further 76,901 as Trustee.
At the week-end Mr. Alexander said: " It is a trend of the times to get into a public company with shares quoted on the Stock Exchange. It ensures continuity of employment for my staff—I have a very fine staff—and whatever happens to me, the business will go on as it is. That is my main reason for this move."
Offer Still Open The Transport Development Group arc offering to acquire the whole of the issued share capital of 205,770 El shares in exchange for 477,386 5s. ordinary shares of Transport Development, together with a cash payment of £48,973. The offer will remain open until September 19, Mr. R. D. Garwood, secretary, told The Commercial Motor.
Mr. Alexander has also accepted an offer for the whole of the share capital of James Paterson and Co. (Motor Hirers), Ltd., 68 Loch Street, Aberdeen, and Dundee Express Deliveries, Ltd. Together the three companies operate approximately 200 vehicles.
Charles Alexander and Partners are principally a Iong-distance. concern with headquarters at -Aberdeen and depots in London, Liverpool, Manchester,.
Glasgow, Edinburgh, Elgin, IVIaccluff and Inverness. James Paterson provides mainly local transport and warehousing facilities.
The group offer also concerns the associated companies of John Rhind Transport. Ltd., who operate some 45 vehicles. and Sutherlands of Peterhead (Road Hauliers), Ltd., with approximately 60 vehicles, These companies will continue to operate as before and will retain their separate identity and character.
Mr. Alexander entered the haulage field in 1926 when he bought a half-share in a lorry. Within three months he had started operations on his own and, after four years, had five vehicles. He established long-distance services for the Aberdeen fish trade, opened a nationwide chain of depots, absorbed several other concerns and survived nationalization.
A crofter's son, Mr. Alexander built his business to such proportions that he employed a staff of more than 400. His fleet covers some 7m. miles a .year.
B.T.C. RECEIPTS £16m. UP STATISTICS issued by the British Transport Commission show that their traffic receipts of £411-.9m. for the first 32 weeks of the year were nearly El6m. higher than in the comparable
period of last year. Rail receipts of £284.2m. accounted for f lm. of the increase.
The Commission's provincial and Scottish bus undertakings increased their revenue from £37.1m. to .E37.9m., and London Transport's road services yielded £34.7m., against £33.3m.