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TIP spending to stay young
Page 12
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• TIP Trailer Rental's decision to postpone its share flotation on the London and Am, sterdam stock markets has not blunted the company's growth plans.
Chairman Jim Cleary has just placed Ell million orders for around 700 new trailers, bring ing the company's total investment in trailers this year to 220 million.
"We are not only increasing the size of our fleet, but continuing to improve it by reduc ing the average age, and by adding the latest innovations to increase carrying capacity and to reduce customers' operating costs," says Cleary.
Most of the 211 million order is for trailers in TIP's short-term rental fleet, in both the UK and in the nine other European countries in which the company operates.
The order will bring TIP's trailer fleet to around 10,500 units, and will continue the company's policy to invest in premium trailers, fitted in many instances with tri-axles, air suspension and tail lifts.
Marketing manager Colin Barr says the order will be placed with most of TIP's existing trailer suppliers including Crane Fruehauf, Boalloy, Tidd, Lawrence David, Van Hool, Trailor and York.
The first of the trailers is currently being delivered, though lead times on some trailers are as much as three months, says Barr.
TIP's expansion plans in Europe are also proceeding apace with two branches scheduled to open in Denmark and one more in France early next year.
It is believed that the TIP share issue is now likely to take place early next year. It was originally postponed because of the recent stock market crash.