Stobart hit by the recession

Warrington, UK: Logistics group Stobart warned its transport division has been hit by the recession, but it remains confident it will deliver “significant” value for shareholders.

Stobart said it had continued to follow its strategy and remained confident it would deliver significant shareholder value. The restructuring of its chilled business alongside bad summer weather had resulted in some losses for the chilled fleet, but the current restructuring will result in a more streamlined business for the future, Stobart said.

But it added that the recession had an ongoing affect slowing growth in the transport sector, with the results that its short-term performance in transport was lower than market expectations.

Stobart said long-term expectations across the business remained robust and the majority of the transport business had progressed well.

WORLD NEWS

Lineage Logistics recognised for solar energy adoption in US

Novi, Michigan, US: Lineage Logistics ranks fifth for on-site solar adoption and 22nd overall for total solar adoption in the US, according to the Solar …

READ THE FULL STORY >

Malvin Fabal takes GCCA Latin America Future Leader Award

Bogotá, Colombia: Malvin Fabal, logistics and frozen warehouse supervisor at Rannik, Dominican Republic,  is the winner of the  2022 Global Cold Chain Alliance Latin America …

READ THE FULL STORY >

FreezPak Logistics plans cold store network in US

Jacksonville, Florida, US: FreezPak Logistics, together with BG Capital, are to build a $120m temperature-controlled warehouse in Jacksonville, Florida. The move is part of plans to …

READ THE FULL STORY >

GCCA appoints South African committee members

Cape Town, South Africa: Members of the Global Cold Chain Alliance in South Africa have pledged their time and commitment to serve on the GCCA …

READ THE FULL STORY >

© 2022 Global Cold Chain News | Terms and Conditions | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 7 Diddenham Court, Lambwood Hill, Grazeley, Reading RG7 1JQ