Sharing at Strathtay Bus
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• Plans for an employee share ownership scheme at Strathtay Bus Company are well under way with the majority of the 450 workforce now contributing regularly to a buyout account.
According to general manager Neil Renilson, the staff first decided to save up in order to bid for the company when the privatisation of the Scottish Bus Group was announced and Scottish Secretary Malcolm Rifkind indicated that the Government wanted to sell the companies individually rather than as one unit. The fund was later set up in June.
Between to .220 from more than 300 workers is now set aside each week into a high interest earning account and this money will eventually be used to buy shares, the company hopes. A privatisation liaison group has also been set up comprising representatives from each garage.
Renilson says the remaining 30% of the staff have not contributed into the buyout account because this includes those who are near retiring age, who work for the company on a temporary basis, or who already have some money saved away and wish to use this once a buyout bid is accepted.
The company has its headquarters in Dundee and seven depots around the Tayside area. It operates mainly in the Tayside region and operates 150 vehicles.