Derby PSVs up for sale
19th January 1989, Page 15
19th January 1989
Page 15
Page 15, 19th January 1989
— Derby PSVs up for sale
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• Derby City Council is to sell its 116-vehicle bus company. Which parts of the company are on offer will be revealed in a prospectus of sale to be published at the beginning of March.
Derby City Transport owns its PSV fleet, as well as 150 council vehicles ranging from refuse carts to pickup trucks — although those are operated by council staff. It is unclear whether the garage and land will be sold or offered on lease.
The company's net asset value is around £2 million and its last published accounts, for the six months ended April 1987, showed a profit of E170,000.
The company's management and workforce will have the opportunity to lodge a bid but, unlike management in other municipal companies, will not be given preferential treatment.