Freight haulage truck firm Eddie Stobart to list on stock exchange
Date: 17 August 2007
Major UK freight haulage truck group Eddie Stobart is to list on the London stock market following a merger with Westbury Property Fund Limited.
The new business, to be called Stobart Group Limited, promises to bring customers "a truly integrated transport and logistics solution, combining road, rail and ports activities" and will have net assets worth more than £250 million.
Eddie Stobart has a fleet of more than 900 trucks, all given women's names, as well as more than 1,500 trailers, and is Britain's most recognisable freight haulage truck firm.
Westbury has a port development site in Runcorn, a rail terminal in Widnes and a rail freight operating business.
Customers of the combined group include Tesco, Coca-Cola and Johnson & Johnson.
William Stobart, the managing director of Eddie Stobart, said: "We believe the future of industrial logistics is about the integration of all modes - linking roads with rail, ports and waterways and, in time, air freight.
"We believe the merger of our company with one that has a complementary strategy to ours, a strong balance sheet and an experienced Board, will enable us to invest and grow to benefit our customers, shareholders and staff."
Eddie Stobart boasts a large number of fans who spot the distinctive green freight haulage trucks on the UK's roads. Some believe the trend for spotting Stobart trucks was started by musician Jools Holland when he was touring the country.
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