Packham sold for f185,000 France tightens
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traffic rules
• Miles Druce and Co. Ltd., a leading firm of steel stockholders and distributors, has acquired A. Packham and Co. Ltd., of Highbury, London, N5, for £185,000 payable in cash.
Announcing this last week, Mr. J. R. G. Tyndall, managing director and chief executive of Miles Druce, said: "This acquisition is a step in the plan to diversify into storage and distribution of products and commodities in addition to steel. The Group's existing subsidiary, Everton Roadways, already operates a storage and distribution service out of Droitwich to cover the Midlands. Packhams will thus increase the Group's coverage and resources in this service activity."
A. Packham and Co. Ltd. operates a storage and distribution service for a wide range of products to retail and other outlets in southern England. It has storage and transport depots at London, Bristol, Southampton and Cullompton (Exeter) and a fleet of over 60 vehicles, which carries out scheduled delivery services.
Last February Packham introduced a productivity scheme which yielded remarkable results in terms of enhanced driver performance and earnings. The details were reported in CM June 211968. Mr. Philip Packham is to stay on for six months in a consultative capacity and thereafter, for a period of five years, will serve part-time.
CM understands that no merging of depots is contemplated and no staff redundancies are envisaged. The management skills of the two organizations are said to correspond surprisingly well. • Medical examinations for all heavyvehicle drivers every five years from the date of first obtaining a licence have been introduced in France. This provision is one of many new items in an extended highway code and revised traffic legislation.
Revocation of driving licence is now applicable for some first offences—including accelerating when being overtaken and failing to dip headlights for an oncoming vehicle.