TIP-going for growth
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• Europe's biggest trailer rental company, TIP, is to spend £30 million on 2,000 new trailers, which will increase its fleet to over 12,000 units.
Most of the new trailers will join TIP's UK division, which has 19 depots. Others will go to France and Germany, where TIP is planning a major relaunch and fleet expansion, and to branches in Scandinavia and the Benelux countries. TIP has 23 outlets in eight Continental countries.
The trailers will be supplied by manufacturers including: Crane Fruehauf, Trailor, Van Hool, Craven Tasker, Montracon, Schmitz, Krone, Koegel, Lamberet, Lawrence David, Gray and Adams, Boalloy, Lamboo, Samro and Barre.
TIP says that innovations being introduced to the European trailer rental market include curtainsided swap bodies in Benelux, West Germany and Scandinavia, where intermodal business is expanding.
The company, which has invested £50 million in trailers since it was bought-out by its management in 1986, says it will continue to sell older trailers. Technological developments have encouraged a short service life for trailers, particu larly for reefers and curtainsiders, it adds.
TIP was floated in February in both London and Amsterdam, raising £15.25 million after expenses. Chairman Jim Cleary says the company is looking closely at expansion into southern Europe and could make announcements soon. 0 TIP has bought tanker haulier Greenland Transport Equipment for El million (see Business News, page 13).