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Davies buys Goodway
Page 7
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• Glyn Davies has moved back into container haulage with the purchase of Felixstowebased Goodway.
But the move means uncertainty for the workforce of the 120-vehicle company because the former Russell Davies boss says he plans to "restructure" Goodway to enable it to develop further. Goodway has five depots, at Felixstowe, Manchester, Kirk Smeaton near Leeds, Grays in Essex and Walsall.
Davies says Goodway has "struggled to remain competitive" over the past few years. Two years ago it was hailed by analysts Plimsoll Publishing as the most "commercially aggressive company" in the road haulage sector having increased its sales by 91% from 199596 against an industry average of 8%.
Davies was a co-founder of container haulier the Russell Davies Group, which he sold to Securicor in the mid-1990s. He stayed with Securicor for 18 months before leaving to set up Hanbury Holdings, which runs businesses from distribution to house building and has now taken over Goodway.