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Bosses buy Walon from French parent for £34m

7th November 1996
Page 10
Page 10, 7th November 1996 — Bosses buy Walon from French parent for £34m
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Which of the following most accurately describes the problem?

• Walon's UK operation has been bought by its management from its French parent company Chargeurs for £34m.

The Somerset-based car transporting company, which moves 750,000 cars a year and has a turnover of £65m, will keep the name Walon and continue to be headed by managing director John Merry. The buyout includes the firm's subsidiary operations Translogistix and Walon Autotec.

Walon has been able to return profits from car transporting despite a difficult market After the announcement, Merry said he thought the £34m paid was a fair price and went on to say it would be business as usual for both customers and employees.

The firm would continue to trade with its former European partners and Merry confirmed that there were no planned redundancies.

Walon gets about 45% of income from technical operations including the preparation of cars and fitting extras such as air conditioning.

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