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Archive
1995-09-01 DoT-001
Department of Transport
Watts welcomes sale of BR timber treatment business
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Press release
Department of Transport
Watts welcomes sale of BR timber treatment business
John Watts, Minister for Railways and roads welcomed the sale of
British Rail's Ditton Timber Treatment Works, Widnes, to PTG Holdings
Ltd - a subsidiary of The Phoenix Timber Group plc.
A number of organisations had expressed interest in buying the
business, which employs 10 staff producing hardwood and creosoted
softwood sleepers for the railway industry. The works last year
posted a turnover figure of #2.4 million and are being sold as a
going concern.
Welcoming the sale, Mr Watts said:
"This is another tangible demonstration of the private sector's
interest in rail privatisation, and its commitment to the long term
future of the railway industry,
"Freeing this busines from the constraints of public ownership will
bring new and broader opportunities for Ditton. This is very good
news for Ditton's customers and employees alike,"
Notes for editors.
1. The Ditton Works formed part of BR's Central Services
group of businesses, providing a variety of support
services to the railway industry. BR plan to dispose of nearly
20 other Central Service businesses.
2. Ditton is the second Central Services business to be sold. The
first - Baileyfield Switches and Crossings Works, Edinburgh, was
sold in July to VAE Baileyfield Ltd.
# = pounds sterling
Railnews Archive ::: 1995-09-01 DoT-001
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