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Pall-Ex boss 'on the mend' and back in the driving seat
Page 10
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After taking time off through illness, Hilary Devey is ready to tackle new challenges, such as launching the pallet network in Spain and Poland.
PALL-EX CHIEF executive Hilary Devey is well on her way to recovery after suffering a stroke earlier this year and is looking forward to expanding the pallet network in Europe.
"I'm on the mend, I had a stroke in the early part of the year caused partly by damn hard work last year. I was everywhere, constantly up and down the motorway and doing 20-hour days. I just wore myself out really. I was very poorly and spent the best part of three months in hospital."
While she says it was a -humbling experience:she's gearing up for the challenges of 2009, which could include acquisitions should the right opportunity arise.
"While I'm not yet 100% now, I'm certainly back in the business, with a hands-on role. I'm enthusiastic to forge ahead and get things moving.
However, Devey wil I be travelling
less and relying on her senior management team to do more work. -Last year we appointed Adrian 1Russell as managing director it was the right decision and he has performed incredibly well."
European expansion
Having launched in Italy last year, with an investment of around £750,000. Pall-Ex plans to open in Spain later this year and in Poland next spring.
"The Italian division is a threeyear project and negotiations have been protracted but it all came good in the end," says Devey, who appeared on the Channel 4 TV show Secret Millionaire last year.
The firm is able to finance such an expansion during the recession because it has historically carried
little debt, which means it has avoided the worst effects of the credit crunch. Devey says. -PallEx is not highly geared [indebted] at all. We bought our land at the right period, unlike some of our competitors who have huge debt.
Necessary cuts
"When we saw the recession coming, we acted very promptly. We cut back where necessary. We looked at every area of the business in depth, our suppliers and our capital expenditure. And we made savings in all areas and it proved to be the right thing to do."
This year Pall-Ex's volumes have dropped by around 8%, which is short of the 25% fall that Devey claims she has seen elsewhere in the industry. Now the network is hoping to build a further hub in the East Midlands and is looking for takeover opportunities, she says.
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