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John G Russell snaps up Norfrost'
Page 10
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GLASGOW HAULAGE firm John 0 Russell (Transport) has acquired financially troubled freezer manufacturer Norfrost.
Thurso-based Norfrost went in to administration last year, citing long-term losses incurred by its own transport division and its remote location.
Administrators from KPMG Corporate Recovery approached John G Russell, suggesting the efficiency of the groups transport and distribution network could be the way to return Norfrost to profitabfity.
The move also benefits John G Russell as it gains a significant volume customer. This will help it maintain its rail-freight services, which have been struggling to find traffic heading south.
Chairman John Russell explains: 'Northbound we carry all sorts of consumer goods for the big retailers, multiples, and the major manufacturers. [But] southbound the traffic is much less and we're very anxious to find any other traffic moving south to the Midlands and north of London."
Russell conf irms that manufactifing will be maintained in Caithness; it will trunk the fridges down to its warehouse and distribution complex in Hillingdon. Fridges and freezers destined for England will then be shipped via their own chartered trains.
The new company will trade as icetech Freezers,