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NFC cash revelation

3rd July 1982, Page 3
3rd July 1982
Page 3
Page 3, 3rd July 1982 — NFC cash revelation
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Which of the following most accurately describes the problem?

)ST of the money raised by sale of the National Freight mpany went into the organiion's pension fund and net )ceeds were only about 6m.

iiving this figure in the CornTis last week, Transport Un • Secretary Reginald Eyre, J it represented the difference ween the proceeds from the a of shares to management, ployees and pensioners — 1.5 million — less expenses of — some £200,000 — and fments to the NFC pension ds to fund the historic defi'cies — £48.7 million.

lext week's CM will include National Freight Consort's first financial results.