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16.12.19
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BRANCH LINE: Pall-Ex is helping a local Christmas tree wholesaler reduce the miles from forest to front door by transporting products nationwide via its pallet network. The logistics giant has been enlisted by Hinckley-based Cadeby Tree Trust to deliver 180,000 trees, which must travel from farm to customer within five days and be kept cool to maintain freshness and minimise needle loss. Cadeby Tree Trust’s tree production operates over 600 acres, growing Nordmann fir, Norway spruce, Fraser fir and blue spruce, with the varying size and shape of the trees providing additional challenges. Christian Bonshor, general manager at Cadeby Tree Trust, said: “Speed is a major consideration for us; trees must be left to rest for 24 hours after cutting, before they are netted, palletised and loaded. Pall-Ex enables us to scale up as the season gets under way, make smaller drops to multiple destinations and ensures vehicles are available when we need them.”
Haulier looks forward to a brighter future with a £55m cash injection
Eddie Stobart Logistics rescued in £55m deal By Carol Millett
As William Stobart (pictured) returns to Eddie Stobart Logistics (ESL) this week as executive chairman, Unite has warned against any move to cut jobs or put undue pressure on its workers in a drive for greater profits. The move comes as the deal with DBAY Advisors was formally completed after being voted in by 81% of shareholders on 6 December. It sees DBAY inject £55m of capital into the company in return for 51% of the shares. The £55m also comes with an 18% repayment interest rate. The deal sees Philip Swatman step down as chairman, while CEO Sébastien Desreumaux and CFO Anoop Kang will continue at the helm of the company, retaining their current roles. William Stobart returns to the company in his previous role as executive chairman, which he held until 2017. DBAY was a major shareholder in ESL before it was floated on the Stock Exchange in 2017. It made £150m from a flotation that valued the haulage company at £573m. ESL still faces an uphill battle to secure its future. It recorded a loss of at least £12m in the first half of the financial year, following an accounting scandal which saw its shares suspended. Unite national officer for road transport Adrian Jones said: “Unite is already in the process of seeking an urgent meeting with the new owners to discover what plans DBAY has for the short-, mediumand long-term future of the
company. The recent financial problems experienced by ESL has led to our members at the company becoming very anxious about their employment. A situation made worse by the lack of information provided. “Unite hopes that early discussions will pave the way for an improved industrial relations climate with ESL. “However, the new owners need to be fully aware that Unite will not allow profits to be ramped up at the expense of our members’ jobs, pay or conditions.” A DBAY spokesman told MT that the company’s operational performance has not been affected by the uncertainty leading up to the deal with DBAY. “The company has delivered Black Friday successfully during this period of transition and Tesco
has also renewed its contract with ESL which it would not have done had there been any concerns that the company could not meet its operational challenges.”
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