M.T.O.L. to Buy 576 B.R.S. Meat Vans?
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NIEGOTIATIONS are proceeding for L the purchase by the Meat Transport Organization, Ltd., of the whole of the "charter" fleet of 576 meat vehicles run by British Road Services. M.T.O.L. have appointed two negotiators, and several conversations with the British Transport Commission have taken place.
A separate company, functioning as a co-operative enterprise, would be formed to operate the vehicles. The capital would be subscribed largely or wholly by participants in the M.T.O.L. scheme, of whom there are 4,500. It is understood that finance houses would not be asked to back the enterprise. It is proposed that the shares should be widely diffused in the industry.
The new company would have a contract with the successors to M.T.O.L. (see page 272) similar to that of the present chartered operators. It is proposed to set up a £150,000 company to take over from M.T.O.L.