Tiphook/Mitchell (offs?
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• Newspaper reports have fuelled speculation that container leasing company, Tiphook, is about to make a bid for the troubled engineering, chemicals and transportation group, Mitchell Cotts.
Just a few weeks ago Tiphook was unmasked as the mystery owner of the second share stake in the company (Commercial Motor, Dec 20).
Now the Observer claims that a hid for Mitchell Cotts is looming, with the most likely bidder being Tiphook. Through its rental side of the business, Tiphook leases containers to shipping lines and this is thought to be complementary to Colts' international shipping and transport operations.
Tiphook has just issued new figures showing strong growth over the whole of its operating network. It has moved ahead rapidly on the planned expansion of its container fleet with the addition of 20,000 containers in the first six months of the current financial year and chairman Robert Montague is known to he keen on further expansion.
The company reported a 50% jump in pre-tax profits for the six months to end October 1986 to .27.5 million.