Tanker takeover goes ahead
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THE EXPECTED £3.5m deal for United Transport International to buy Hargreaves Transport (CM, July 20) was completed on Tuesday last week.
And an immediate effect is that Hargreaves Transport's trading name, Smith and Robinson, is now also the name of the company which will operate as part of the United Transport Tankers group within UTI.
The £3.5m cash price paid for the company includes £1.5m to repay a debt to the Hargreaves Group. This move. adds Smith and Robinson's 185 tractive units and 290 chemicals, foodstuffs and petroleum tankers to UTT's 450 tractive unit fleet and will help create a strong force in a market which is fighting for a share of the fuel delivery market.
Last week's news (CM, August 10) that Texaco is handing its fuel delivery work to the National Freight Consortium's Tankfreight subsidiary underlines the attractiveness of national tanker operations.