Keltruck supply 27 trucks to ECP
The deal, according to the Keltruck news bulletin, was engineered by Keltruck's fleet director Mike Kelly, and Keltruck MD Andrew Jamieson.
Twenty-three Scania P-Series 18 tonners with box bodies, tail-lifts and four G-Series 6x2 tractors make up the deal, with all the trucks on a five-year repair and maintenance contract.
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Jobs a good 'un.
TLS Vehicle Rental to close down at year end
Stephen White, vice-president communications of GE Capital, Consumer Finance, tells Roadtransport.com that the decision to "cease activity" was not an easy one to take, and had come after it had extensively consulted with staff on all viable alternatives for the business.
"TLS experienced a dramatic reduction in business during the general economic downturn and, despite extensive efforts over the past two years, has been unable to sustain sufficient scale to remain a viable and ongoing concern.
"While unfortunate, the decision taken is aligned with GE's global strategy to shrink GE Capital's global balance sheet and invest in higher performing businesses with scale, including those in the UK," he says.
Closing the business affects approximately 140 TLS and Broadway Motor Company employees based at four sites across the UK. White says TLS is in contact with its customers, who will be offered the chance to buy existing rolling stock or return the vehicles.
Last year, GE Capital placed TLS into its restructuring division in an attempt to turn it around. In the past two years TLS has downsized significantly from 15,000 assets in 2008 to approximately 7,000 assets today, predominantly rented to utility businesses like Enterprise Utilities and Siemens Electricals, and local authorities.
In 2002, TLS had a fleet of 40,000, priding itself on being able to offer anything from a bike to a tractor unit. The company scaled back from heavies and specialist equipment to concentrate on vans and two-axle rigid trucks, cutting asset-management levels by more than half.
TIP Trailer Services, also owned by GE, is not affected by the move.