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gew boss
Page 7
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E LOSS-MAKING Renwick ight division could soon be in v hands if a £5.8m bid for the gnton-based Renwick Group is through.
AH (Amalgamated Anthra! Holdings), which already ; road haulage interests, proses to transfer Renwick ight and Renwick's interest in Western Fuel Company kH and the National Coal ard hold the rest of it) to tish Anthracite Sales, • at a ue of £3.5m.
ienwick shareholders have an recommended to accept, I staff have been assured that !re will be no drastic changes. kAH plans to integrate its new ight interests, but says it nts Renwick to retain its aarate identity.
rhe Freight division has made nsistent but diminishing ;ses in recent years, against a .6m pre-tax Group profit last ar.
n a joint statement the two mpanies said: "It has been regnised by the Renwick board 3t further rationalisation is cessary to return the division profitability."