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Article: Arriva puts car firm back on the market
- Article from:
- The Scotsman
- Article date:
- March 3, 1999
- Author:
CopyrightCopyright 1999 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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ARRIVA, the Sunderland-based transport operator, has put its car
contract hire business up for sale again despite failing to find a
buyer last year.
Arriva Automotive Solutions, the UK's third largest contract hire
and fleet management company, was hit by falling prices of used cars
last year and profits at the division fell to GBP 25.1 million from
GBP 32.7 million after interest payments.
However, the company said a recovery in used car prices this year
has put the sale back on track.
Bob Davies, who joined the group as chief executive at the end of
last year, said: "We are actively seeking to realise the value of
Arriva Automotive Solutions. It will ensure we have the resources to ...