Top men resign at Cowies
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• Two top directors have suddenly left truck rental company Cowie Interleasing, amid fears that 1990 will be tough. Cowie Interleasing refused to comment on the resignations of joint managing director David Hurst, and truck director Charles Hart.
According to Salford Van Hire, the normal Christmas rush on rental vehicles was delayed until late October/early November, and 1990 will be even tougher. However, the company predicts that rental of specialised distribution vehicles will increase. "In the later half of 1989, we have done a number of big deals on a long-term spot-hire basis, with some very big names", says general manager Nick Evers. "Our guess is that they are hedging their bets by using rental vehicles on contracts they are initially doing on a trial basis." Ryder agrees that the rental market has fallen during the past year, and predicts an even quieter 1990. Company secretary Tom Lysaght says: "High interest rates are stopping everything happening. We are definitely not replacing vehicles in the same volume as we were at this time last year. Things are certainly slowing down."
Intertrail Rentals will change its name to Intertrail Contracts at the end of Janu
ary, to reflect the company's change in business. Two-thirds of the company's fleet now operates on contract hire work and, as the rental market becomes more volatile, the percentage will increase, says Intertrail managing director John Goodreid.
More than 2800,000 worth of business has already been won by Intertrail this month, and Goodreid predicts a £7 million turnover for 1990.
Intertrail has stopped negotiating for a UK contract hire firm after failure to agree a price. But it is continuing takeover discussions with a UK distribution company. (CM 1925 October 1989).