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Staff wait for P800 deal

5th December 2002
Page 8
Page 8, 5th December 2002 — Staff wait for P800 deal
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Which of the following most accurately describes the problem?

• Staff working for PLO Trans European face an uncertain Christmas after it emerged that negotiations to sell the company are still continuing.

PLO announced that it wanted to sell its contract logistics operations In the summer, saying that it expected to have a deal concluded by the end of the year. However, with the end of the year drawing closer, a spokesman has confirmed the company is still in not able to say which company is most likely to take over the Ipswich-based concern.

All of the road transport-based business apart from PLO Ferrymasters Is up for sale, and it is not known who the potential purchasers are. "All I can say Is that we are still in negotiations with more than one party and as soon as we are in a position to make an announcement we will," says a spokesman.

Speculation about potential buyers has centred on Exel, which operates the UK's biggest and most successful transport operation, although this does seem unlikely. DIOS might be Interested as it runs a similar operation; Securicor is known to have the money, if net a good reason for such a deal. Perhaps a mor; likely outcome is that the business could be split up and sold off In operating divisions.

However, the situation is unlikely to be resolved until the New Year.

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Locations: Ipswich

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