RHA ponders Parcelforce
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• Some of the country's top parcels carriers met this week for urgent talks on the sale of the Post Office's parcels division, Parcelforce.
Philip Crowfoot, the Road Haulage Association's express parcels group chairman, said that the forthcoming sale would be "high on the agenda" at the group's meeting on Wednesday (26 August).
Operators are concerned that Parcelforce will keep its VATexempt status once in the private sector, says Crowfoot. "I cannot see Parcelforce voluntarily getting rid of this ben
eficial marketing tool," he says. "But before we campaign for a level playing field we must get them back into the marketplace as a going concern."
The Department of Trade and Industry confirms that the taxexempt status is still "under detailed consideration".
Securicor Omega Express has denied industry rumours that it is interested in buying Parcelforce.
"We are hungry for expansion," it says, "but this would not be a neat fit. It would be like Tesco buying Sketchley — it lacks synergy."
The Union of Communication Workers, which is backing a management buyout of Parcelforce, believes the sale will not be launched until October or November.
The union predicts that a "book value" of £350m could be asked for the company, based on its net asset value. "But we are not sure whether it will be sold as a lump to the highest bidder or via a public flotation of shares," it says. It warns that any retention of the VATexempt status could fall foul of EC law.
El The IJCW has just agreed to accept a 1July increase of 3.75% on pay rates. Senior managers have accepted the same deal.