Haulier may be sold
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THE NEW OWNER of Southampton-based E. F. Phillips and Sons (Transport) may put the company up for sale as its activities do not fit in with its sand and gravel work.
Attwoods, a West Drayton, Middlesex-based publicly quoted company is taking over Phillips' transport business along with the parent company's sand and gravel and waste disposal business on behalf of Attwoods' wholly-owned subsidiary, the Drinkwater Group.
The transport company, which runs 10 tractive units and 24 semi-trailers on European haulage work, came as part of the takeover package, but Attwoods may sell it if it cannot be turned into a profitable venture.
In the year to May 31 last year, Phillips Transport lost £8,300 after tax (against its parent company's £44,600 loss) and a similar loss is expected this year. While the integration of Phillips' business with the Attwoods management structure should reduce overheads, it is still outside the mainstream of its activities.