Freightliner

[FLHH East Anglia]

Supposed to be making an announcement this week about an imminent takeover of another freight company!!?????????????:roll:

 

[The Planner]

Fastline Id expect...

 

[bobshuruncle]

More likely to be the purchase of GBRF from First Group

 

[Capybara]

Supposed to be making an announcement this week about an imminent takeover of another freight company!!?????????????:roll:

That's a bold statement, with an interesting slant.

 

[Dreadnought]

Fastline Id expect...

Doubt it as they have no work since Eon pulled the coal contract, besides FLHH got the work anyway.

 

[bobshuruncle]

What a shame,I always liked seeing the GB livery go past,much nicer than the green or red ones

 

[GB]

I would be very suprised if Freightliner were even allowed to take over GBRf, would give them too much of a monopoly.

 

[mickey]

I would be very suprised if Freightliner were even allowed to take over GBRf, would give them too much of a monopoly.

Very true. It may be small but GBRf has led to increased traffic and lower freight rates on the railways, particularly with container trains, and it would be a huge shame to lose that now.

 

[swt_passenger]

I would be very suprised if Freightliner were even allowed to take over GBRf, would give them too much of a monopoly.

The monopolies people didn't seem to be interested back when Freightliner did intermodal and EWS did everything else, so would they really be worried now?

 

[mickey]

The monopolies people didn't seem to be interested back when Freightliner did intermodal and EWS did everything else, so would they really be worried now?

You mean under British Rail?

Post-privatisation developments have seen both companies diversify, and not without significant support from government circles.

 

[swt_passenger]

No - just post privatisation. When EWS had bought all six non-intermodal divisions. FL's HH division and GBRf came along somewhat later IIRC...

 

[bobshuruncle]

Well if F/L do buy GBRF they will simply swallow up their intermodal and coal services so a lot of people could say goodbye to their jobs at GB. Would that interest the monopolies board ??? How weird would that be..a sucessful company swallowed up by one that is losing money and all the staff that made it so sucessful left on the scrapheap. Anyone got a spare 40m,sounds like a bargain

 

[mickey]

Well if F/L do buy GBRF they will simply swallow up their intermodal and coal services so a lot of people could say goodbye to their jobs at GB. Would that interest the monopolies board ??? How weird would that be..a sucessful company swallowed up by one that is losing money and all the staff that made it so sucessful left on the scrapheap. Anyone got a spare 40m,sounds like a bargain

Would FL staff allow that to happen though? Surely the railway 'family' would kick in and they'd be hit by a wave of strikes in support of the 'abandoned' workers?

 

[Dolive22]

I would imagine that just after privatisation it would have been a very bad career move to take action on a monopoly the government had just created.

It would be much easier to block something being created by a private company.

 

[bobshuruncle]

Not sure about that one, I do know that GB staff have a better basic pay than F/L, not sure about bonuses etc, but surely F/L won't increase everyone elses pay inline with the GB staff they inherit.

Personally if I was F/L or DBS buying GB I'd leave it as a standalone company trading on its good reputation,it makes money after all. Or am I just a dreamer..

 

[GB]

Personally if I was F/L or DBS buying GB I'd leave it as a standalone company trading on its good reputation,it makes money after all. Or am I just a dreamer

Thats exactly what Id do and its exactly what I hope happens if it does go to an already established freight firm. However like you thats probably just a dream!

The last thing Id want to see is the GBRF brand dissappear completely. We have made great strides in each market and given all the hard work by both the lower level employees and management to get where we are now, it would be such a shame to see it all absorbed.

 

[Aictos]

Well until something concrete is available, we should take it as a rumour although if Freightliner were going to take over a company I wouldn't be surprised to see the target being Fastline.

I can't see First giving up GBRF that easily anyway.

 

[bobshuruncle]

Well until something concrete is available, we should take it as a rumour although if Freightliner were going to take over a company I wouldn't be surprised to see the target being Fastline.

I can't see First giving up GBRF that easily anyway.

No First are definitely selling GBRF,they need the cash and as GB are doing so well its an easy sale and money in the bank for First

 

[Vulcan]

Quote:
Originally Posted by FLHH East Anglia

Supposed to be making an announcement this week about an imminent takeover of another freight company!!?????????????

That's a bold statement, with an interesting slant.

I can't believe this went un-noticed, nice one Capybara!

 

[Dreadnought]

Well until something concrete is available, we should take it as a rumour although if Freightliner were going to take over a company I wouldn't be surprised to see the target being Fastline.

As I pointed out earlier why take over a company that has no work since Eon pulled out of its coal contract with Fastline.

 

[37401]

As I pointed out earlier why take over a company that has no work since Eon pulled out of its coal contract with Fastline.

Expand the shedliner fleet with some wagons and some 663xx's?

oh and the Grids

 

[Dreadnought]

Expand the shedliner fleet with some wagons and some 663xx's?

oh and the Grids

1. The wagons were all leased from GE and are being moved to secure storage locations which suggests that if FL wanted them all they need to do is talk to GE.

2. They have 4 66s off leased and use 2 others on a spot hire basis so don't think anymore are required especially as they seem to be covering the Eon work they have ex Fastline without an increase in fleet.

3. As for the grids, what can I say!

 

[matt]

Expand the shedliner fleet with some wagons and some 663xx's?

oh and the Grids

I doubt Freightliner want to expand the class 66 fleet once they get the issues with the class 70s sorted.

 

[37401]

fair nuff

 

[Aictos]

No First are definitely selling GBRF,they need the cash and as GB are doing so well its an easy sale and money in the bank for First

First don't need the cash as they are doing okay at the moment, if anything it's the US arm which is because of pressure on the public spending budgets which has of course put quite a dent into the profits of First Group's yellow school bus business.

FirstGroup also confirmed it was on track to generate £100m cash over the year to cut debt and had cut operating costs by more than £200m.

Can you elaborate a bit please?
I've just had a look at their filed accounts and see impressive increases in gross income, net income, shareholder's equity, assets and receiveable income. The downside is a lot of debt to fund those assets, and nobody wants debts at the moment, but I can't see where there's a "serious financial situation".

Click here for the article.

Apart from US school bus operations it would appear First are doing fine

Wouldn't be a massive surprise if they got rid of a non core part of their operations, regardless of the financial climate, but certain;y not heard anything

Now this doesn't sound like First is struggling and I disagree with tbtc as I believe GBRF has always played a important part in the portfolio of First Group.

Indeed why would First sell the company when it's won two very lucative contracts, one delivering 1,500 new carriages for LUL in order to replace all the current stock for the sub surface lines and not forgetting the £2 million, three-year contract with global aluminium business Rio Tinto Alcan for the carriage of coal and alumina.

If there were any truth in it then someone needs their head looking at as I know I certainly wouldn't look at selling such a well performing firm.

But anyway, this is just rumours and one thread has already been locked see here do we really need to lock this one as well? :roll:

 

[DaveNewcastle]

Good summary there, ajax103.

I'd just like to help in drawing a line under this, until and unless we have any more to say, with 3 closing remarks from me.

1. As well as keeping a careful eye on the RNS news feeds from listed companies (a function of the Stock Exchange), I also dip into some of the more gossip-fuelled bulletin boards on Company news. There is only silence on First Group (FGP) at the momment.

2. Buying and Selling operating divisions is part of business. It has nothing to do with a company being "in trouble". I buy and sell assets regularly - not because of my circumstances, but because of the market's value of those assets.

3. I'd like to quote the entire last chapter of Ludwig Wittgenstien's most famed book:

Whereof we cannot speak, thereof we should remain silent.

 

[GB]

While GBRf consistantly operate at a profit, First has never been fussed over this section of the company. The only reason why GBRf came under First Group in the first place was becuase First Group wanted to aquire the passenger franchise on the GEML which was partly operated (under Anglia) by GB Railways.

The other thread on the matter was locked at my request as on reflection I didnt think it was a particulary bright move on my part starting a topic about work like that untill I had found something concrete. However speaking to several work mates it is looking more and more likly that GBRf is up for sale (through no fault of its own) and the rumours are now geared towards who might be taking us over IF as sale goes ahead.

 

[SouthernCDiv]

With GB going from strength to strength it's an odd move, but those in charge of TOC's and FOC's don't always do the obvious! I don't think First is the flavour of the month passenger wise, at least on performance, maybe they see the cash in GB and that they can divert this to passenger operations, when in truth they should get out of passenger and ramp up the freight.
GBRf is a well respected and very successful company and will be a 'prize' for someone!
AS LONG AS THEY DON'T START MESSING ABOUT WITH IT !

 

[bobshuruncle]

Thats the key to it...Don't start messing around with a sucessful business. I know several people who work for GBRF and have heard many stories of how employees have ' gone the extra mile' to make a job work. It is this kind of 'can do' attitude which makes this company stand out.

But the simple fact is FL run approx 100 intermodal services a day, GB run 5 (or 10 i suppose if you look at the return journey), they will swallow those up without the need for any more staff and the guys who helped make it happen will be hung out to dry. I doubt they would even be interested in other parts of the business such as charters,conducting and the Carless tanks.

As I said in my earlier post,if it were me buying GBRF, I'd keep it exactly how it is and concentrate on growing the business based on its current values

Bob
--- old post above --- --- new post below ---
Just an update to the thread....

Announcement due on Thurs or Friday this week regarding sale of GBRF

 

[Aictos]

Yes but a few weeks ago, colleagues were talking about First losing it's Capital Connect franchise and being taken over by Elaine Holt on behalf of the DfT - nothing of the sort happened though did it, so until it's in black and white I prefer to treat the GBRF stories the same as just rumours.