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Pentalver unveils big plans for Cannock subsidiary
Page 8
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Bowmur Haulage is poised for expansion on the back of a £12m
investment from its new owners. Guy Sheppard reports.
CONTAINER STORAGE and transport operator Pentalver is planning to expand its newly acquired subsidiary Bowmur Haulage with a fl 2m investment in new premises.
Brian Tattersall. Pentalver's MD, predicts that Can Bowmur's workforce will rise from around 320 to 400 by 2008.
The company was bought for £7m in May 2005; it is due to move to Ruiner Hill near Cannock in the next 12 months. "We'll he doing container storage there but it'll mainly be transport," says Tattersall. "There's an option for a rail link in the future."
In the eight months following its takeover, Bowmur's pre-tax profits slumped to £208,000 compared with nearly £2.8m in the year to April 2005. Tattersall blames this on a change in accounting practices: "We had to do a depreciation of the assets on a much faster basis than before."
He stresses that Bowmur is performing well, with much of its 150-strong fleet now being utilised 24 hours a day, and adds: "It's the only way you can make money out of container transport.
Southampton-based Pentalver, owned by Danish shipping giant AP Moller Maersk. boosted its own pre-tax profits by 25% to £7.5m in the year to December hut Tattersall says transport's contribution was minimal.