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Newgistics completes Pio 1 1-18 "I
11th September 2008, Page 17
11th September 2008
Page 17
Page 17, 11th September 2008
— Newgistics completes Pio 1
1-18 "I
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management buyout
Ry Roanna Avison LLANELLI-BASED freight forwarder Newgistics Freight Solutions has completed a management buyout from Sandrair International.
Details of the deal have not been released, but director Jon Newington and his wife received financial backing from NatWest and help in finalising the contract from the Wales Co-operative centre.
Speaking to CM, Newington says he approached the director of Sandrair to propose the MBO and his idea was approved. Newgistics employs 10 staff and runs E one 18-tonne curtainsider and three vans. "While the current economic climate is not ideal for expansion. I hope to be able g; to expand the business in given time," 2 Newington says.