Clyde port looks for big buys
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• Clydeport wants to expand by buying haulage companies, but small hauliers need not apply. Managing director David Hunt has told shareholders that it is targeting shipping and haulage companies because it cannot expand by buying more ports— there are none available.
But fellow director Euan Davidson has dashed small hauliers' hopes of a quick profit by ruling out small haulage firms. "It would hove to be appropriate for our size," he says. 'We're looking at transport and distribution as opposed to straight road haulage." Targets for acquisition are likely to be companies offering warehousing and added value to achieve higher margins than the 3% achieved by small hauliers, says Davidson.
He is not commenting on suggestions that Clydeport is already in talks with companies, saying that Stock Market rules prevent him from doing so.