Red and White to Sell Out to B.T.C. ?
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NEGOTIATIONS are likely to be opened in the near future for the acquisition by fir. British Transport Commission of all the passengertransport undertakings owned by Red and White United Transport, Ltd., Chepstow, Mon.
As a preliminary measure, the Cornmission has indicated its desire to open negotiations, and the company has consented to afford facilities for the ascertainment of the respective assets as at December 31, 1948.
Red and White United Transport, Ltd., has six subsidiary and two associated companies. The subsidiaries are: Red and White Services, Ltd., Cheltenham District Traction Co., United Welsh Services, Ltd.. Newbury and District Motor Services, Ltd., Venture, Ltd. (Basingstoke), and South Midland Motor Services, Ltd. The associated companies are: Griffin Motor Co.. Ltd.. and Ralphs Garages, Ltd.
A total of 820 passenger vehicles is operated, and over 3.000 . people are employed. Services are operated in the counties of Glamorgan, Carmarthen. Monmouth, Brecon, Hereford and Gloucester, and as a member company of Associated Motorways, Red and White runs an express service from Cheltenham to Newbury. Basingstoke, Oxford and London The authorized capital of the parent company is £1,000,000. and the issued capital approximately £860,000. Profit for the year 1947 wis £400,000 before tax deductions had been made.
Joint managing directors are Mr. Guy Bown. 0.11.E., and Mr. John H. Watts.