TDG close to sale of Stateside firm
28th March 1991, Page 15
28th March 1991
Page 15
Page 15, 28th March 1991
— TDG close to sale of Stateside firm
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• The Transport Development Group is believed to be close to selling US subsidiary Willett Freight Services to its management.
TDG chief executive Alan Cole says that negotiations are now at an advanced stage; the deal is expected to be finalised in April.
Chicago-based Willett runs contract distribution and warehousing services across the States, as well as steel and bulk haulage.
The company has been losing money and it contributed to TDG's US profits dropping by 50% to around 21.5m in the year ending 1990.
Cole announced earlier this month that Willett and Oregonbased Market Transport were to be sold.
The sales will leave TDG with one US subsidiary, Willig Freight Lines, which remains profitable.