NFC stays in Iran
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THIS YEAR the National Freight Corporation will produce its best trading results since 1973. Sir Dan Pettit, the Corporation's chairman who leaves next week, said that given reasonable fortune it would finish in the black this year after payment of charges.
Sir Dan was addressing a reception to mark the tenth anniversary of NFC. Sir Dan said that in the past decade, NFC had cut its establishment of people and equipment by one-third, had engaged a sophisticated management team and become highly specialised in many aspects of transport and distribution. He agreed that the corporation's European ventures had been ill-timed and poorly managed but marked these down as NFC's only real failures. Its involvement in Iran will continue so long as it is safe to maintain a presence there. Ted Wall, who recently took over as co-ordinator from Ken Cook, is continuing to operate almost normally. NFC is involved in three major projects in Iran. "Remaining in Iran is for the moment a week by week decision," said Sir Dan.