IN BRIEF
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• Intertrail Rentals, the vehicle hire and contract hire company, has been bought out completely by Socgenlease — the UK subsidiary of the finance company Societe Generale.
Societe Generale has owned some 50% of Intertrail for the last three years and has now bought the remaining half from Jim and Valerie Anderson for an undisclosed sum, Intertrail Limited, the trailer rental company, will continue to be wholly-owned by the Andersons. • Hays Distribution Services has completed its acquisition of the 40% interest in Farmhouse Distribution, Frigoscandia (FFD), formerly held by Frigoscandia.
FFD, previously jointlyowned by Hays Distribution Services and Frigoscandia, now becomes a wholly-owned company within the Hays group.
• Pannell Engineering, the Andover-based truck and trailer bodybuilder, has been put up for sale by its owners the Pannell Group.
Group chairman Gordon Pannell says that the company has not matched up to the profit levels reached by other Pannell Group companies. It is, however, expected to be sold as a going concern.
• LEP Group, the international freight forwarder, has increased its pre-tax profits for the first six months of the year by 36%, from 23.1 million to £4.2 million. Turnover, at £480 million was also up by 36% over the same period.
Group chairman John Read says its Far East, American and British divisions have all made good progress. In June, LEP bought a majority holding in Profit Systems, a USbased freight forwarder.