Salvesen moves into computers
11th July 1991, Page 17
11th July 1991
Page 17
Page 17, 11th July 1991
— Salvesen moves into computers
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• Christian Salvesen has bought its way into computer distribution with the acquisition of specialist distributor Corntrans for more than £.2m.
The deal breaks down as a £558,000 cash payment with deferred payment of £1.7m based on future profits. The acquisition follows Salvesen's recent decision to develop a specialised service for the computer sector. Comtrans was identified as the market leader. If Salvesen wins new contracts for which it is bidding it could increase size and staffing.
Comtrans has 243 staff and 87 vehicles operating from six UK depots.
The Comtrans name will be retained and its chief executive Michael Gratton will continue to run the company.
Salvesen's results last month showed a 7% increase in pre-tax profits to £4.5m.