North Lincs and Lowe .Take-overs
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WpTH the acquisition, 'announced this VV week, of Lincolnshire and Durham haulage concerns, London and Northern Securities Ltd. now controls about 375 haulage vehicles, some 72 being operated on long-distance work under A licences. The latest London and Northern purchases•are of North Lines Haulage Co. Ltd. and its subsidiaries, including North Lincs Tankers Ltd., and of Lowe Brothers, now Lowe Bros. (Transport) Ltd.
The North Lincs group of companies is based at Scunthorpe, with a branch at Grimsby, and operates on shortand longdistance haulage, including oil tanker
work. North Lincs Haulage Co. was formed as such at the end of 1955; Tanker Hire Ltd. was incorporated in 1961 and North Lincs Tankers Ltd. in January last year.
The Lowe Bros. company operates from Middleton-in-Teesdale, Durham, mainly on short-distance haulage of roadmaking and building materials.
The North Lines and Lowe companies
combined operate a total of 155 vehicles, 41 of these being on long-distance A-licence work, 38 on contract carriage of oil and 76 'on B or Contract A licence, many on site work. The tankers are all on long-term contract to an oil company. Before tax, but after depreciation and other charges, profits of the North Lines and Lowe concerns rose from a total of £16,691 for the year 1956-57 to 02.202 in 1962-63, and for the first 10 months of the 1963-64 financial year were 1101,914. The chairman and managing director of the North Lincs group, Mr. D. N. Holloway, is to continue to manage the companies; Lowe Bros. is to be managed by directors of London and Northern's subsidiaries, with assistance as required from Mr. C. T. Lowe and Mr. G. R. Lowe, London and Northern Securities states that the recent purchase of quarrying and brick-making companies in Cumberland and Ayrshire will, it is intended, be followed by the buying of complementary short-distance haulage interests in those areas.