Wednesday, June 06, 2007
Camden Ventures buys Inchcape Automotive
INCHCAPE has sold the entire issued share capital of Inchcape Automotive Limited, its vehicle logistics and re-marketing arm in the UK.
Camden Ventures Ltd is paying £18.8m cash for company including certain freehold property.
The Inchcape company has two new vehicle preparation facilities with a capacity of 50,000 units per year and six units handling the refurbishment of 110,000 used cars per year.
The company also has a number of vehicle storage locations in the UK covering 260-acres able to store 50,000 vehicles.
Inchcape Plc announced the intention of disposing of the logistics and remarketing arm in March, this year. At the same time it revealed plans to dispose of 47 retail outlets throughout the UK - including all Renault, Vauxhall, Ford, Kia, Bentley, Ferrari, Maserati, Jaguar, Land Rover and Volvo franchises.
At the time, the company said: "We are focused on improving the operating margins, streamlining our overheads and increasing the productivity of our resultant UK business. "
DATED: 06.06.07
FEED: AW
Camden Ventures Ltd is paying £18.8m cash for company including certain freehold property.
The Inchcape company has two new vehicle preparation facilities with a capacity of 50,000 units per year and six units handling the refurbishment of 110,000 used cars per year.
The company also has a number of vehicle storage locations in the UK covering 260-acres able to store 50,000 vehicles.
Inchcape Plc announced the intention of disposing of the logistics and remarketing arm in March, this year. At the same time it revealed plans to dispose of 47 retail outlets throughout the UK - including all Renault, Vauxhall, Ford, Kia, Bentley, Ferrari, Maserati, Jaguar, Land Rover and Volvo franchises.
At the time, the company said: "We are focused on improving the operating margins, streamlining our overheads and increasing the productivity of our resultant UK business. "
DATED: 06.06.07
FEED: AW
