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TDG back on acquisition trail with logistics gain in Spain
Page 8
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Following the purchase of a Belgian company earlier this year, TDG has turned its sights on the Iberian peninsula. Dylan Gray reports.
SUPPLY CHAIN management specialist TDG has acquired Spanish logistics business Doman and related company Ferrer Logistica.
The Spanish operation will trade as TDG Doman; all of its 179 employees will remain with the company under existing MD Fernando Sanchez. Doman is TDG's second purchase this year after Belgian chemicals logistics business Mond.
TDG chief executive David Garman says: "'The acquisition of Doman furthers our strategy of growingTDG's business in packed speciality chemicals."
Doman is Spain's leading company in packed chemicals distribution,with sites at Barcelona. Tarragona, Madrid, Bilbao, Irun, Logrono, Castellon and Valencia.
It was a privately owned company that was part of the Guzman Group with net assets of £9.2m. The corn pany is expected to report a profit before interest of £2.1m on a turnover of £68.5m including import duties.
• TDG has published preliminary financial results for the year to 31 December. Pre-tax profit rose from £113m in 2005 to £15.2m., though E3.2m came from previously discontinued operations.Headline pre-tax profit was down from £16.1m to £14.4m.
Garman says:"The reduction in headline profits reflects the impact of contract renewal rates4 which in 2005 dipped below our previous high retention rates."
The group's turnover increased by 4.1% to £531.3m.
As well as contract logistics, including the UK's largest hazardous chemicals network, the group manages intercontinental supply chains. This includes the UK's largest temperaturecontrolled services network including rail-based transport when required.