NOW THC ANNOUNCES MEAT MERGER WITH UNION CARTAGE
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ON completion of legal negotiations in the near future, Union Cartage Co. Ltd. and BRS (Meat Haulage) Ltd. are to merge. Agreement on these merger proposals was announced last Friday by the parent companies, Union International Co. Ltd. and the Transport Holding Company. The merger, it is claimed, will establish their meat-carrying activities on a more stable basis despite diminishing opportunities. This followed close on last week's surprise announcements by the THC of a Tayforth Group take-over, and a link with Leyland Motor Corporation.
The two subsidiaries will transfer assets and staff to a reconstituted company in which the £12m. meat group, Union International, will hold two-thirds of the shares and THC one-third. This new company will be re-equipped and trade in the name of "Union Cartage" Co. Ltd., and staff aspects of the merger are to he discussed with the appropriate unions. Al present BRS (Meat Haulage) operates approximately 200 vehicles from nine depots situated in the Home Counties, Southampton, Liverpool and Manchester, In 1963, BRS (Meat Haulage) had a trading loss of £86.000. the same as in the previous year. The 1964 annual report of the THC recorded that it was still a loss-making company and, hinting at Friday's announcement, stated that reorganization had taken place. but "immediate action on a still more .drastic scale, and perhaps of a different kind, will probably be necessary in 1965 ".