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Abelson reorganized

9th October 1970, Page 24
9th October 1970
Page 24
Page 24, 9th October 1970 — Abelson reorganized
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• Charterhouse Finance Corporation, which co-ordinates all the financial services of the Charterhouse Group, has provided finance to purchase Abelson Motors Ltd, a subsidiary of the Consolidated Goldfields Group. Charterhouse has taken a 36 per cent interest in the company which will change its name to Abel Systems Ltd.

Abelson Motors was formed in 1965 to market a patented pneumatic swop body system for commercial vehicles. The capital has now been acquired by Mr Victor A. Chapman (who was previously director and general manager of the company) and three associates, together with Charterhouse. Chairman and managing director of Abel Systems is Mr Chapman, who is joined on the board by his three associates and by Mr D. R. L. Duncan of Charterhouse.

Abel Systems is to introduce a consultancy service aimed at increasing efficiency for road, rail and airport users of its distribution equipment, particularly for companies engaged in nationwide distribution. Overseas subsidiary companies are being formed and further licensees appointed all over the world to provide outlets for the pneumatic swop bodies.

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