VOLUME 121 No. 312 8 JULY 30, 196
Page 21
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HC Purchases
NYONE who feels alarmed about the announcements on the next two pages concerning the take-over of Tayforth Group by the Transport Holding Company and the THC link-up between Leyland Motor Corporation and its own Bristol Commercial Vehicles and Eastern Coach Works can calm down. As is made clear on page 21, no vast State spending spree is about to start. Nor is this a return to 1947. Obviously it was not just coincidence that these major announcements (together with the car transporter agreement with Western Motor Holdings) came out in one breath, as it were. However, there is no devious intent either. They happened to have been " brewing" simultaneously and Ministerial: consent is still necessary for THC matters like these. It was as much a matter of Convenience as anything else that the announcements shouldhave been made together..
So far as haulage acquisitions are concerned, the industry can look forward to some more announcements over the next few months; but after these there is nothing else on the stocks. The Holding Company avowedly acts as a fully-commercial concern and—like privatelyowned companies—is always looking out for ways to expand. There is no deep plot for "backdoor nationalization "or any other worn old canard like that.
The link-up with Leyland is intriguing because it breaks the " wholly-owned subsidiary" clause in the 1962 Act which has until now inhibited State manufacturing activities on the open market. This should have a twofold effect in that Bristol vehicles will eventually be available through Leyland sales outlets and Leyland Group buses will in time appear in the Tilling Group—if they can fight their way into all-Bristol fleets. The competition thus stimulated should benefit operators.