AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

McKelvie Bought by T.D.G.

8th November 1963, Page 52
8th November 1963
Page 52
Page 52, 8th November 1963 — McKelvie Bought by T.D.G.
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

T AST week the Transport Development J-1 Group Ltd. acquired the issued share capital of McKelvie and Co. Ltd. of Barrhead, Scotland, a take-over which. including the McKelvie subsidiaries, adds some 400 vehicles and trailers to the total controlled by T.D.G.

The McKelvie company was established in 1880 and is mainly engaged in the haulage and storage of heavy engineering and steel traffics. There are three wholly-owned subsidiaries: McKelvie and Co. (BM. and P.) Ltd., McKelvie and Co. (Manchester) Ltd. and William Cumming (Haulage) Ltd. The whole McKelvie group operates 170 vehicles with a total capacity of 2,400 tons, plus about 230 trailers, including heavy haulage models with capacities up to 200 tons. Depots are situated at Barrhead, Motherwell, Paisley, Manchester, Birmingham and London.

T.D.G. paid £450,000 in cash for the company, plus the allotment of 642,857 T.D.G. 5s. ordinary shares credited as fully paid.

Mr. Hugh McKelvie (senior) has retired from the Board but will serve in a consultative capacity. Mr. James McKelvie, the present managing director, will continue to administer the companies, and Mr. William McKelvie and Mr. Hugh McKelvie (junior) also remain as directors.