10th Nov 2014 09:31
LONDON (Alliance News) - Wincanton PLC on Monday said it has won a five-year deal with equipment rental company Lavendon Group PLC which will start in January.
Under the terms of the deal, for which Wincanton did not provide financial details, the supply chain services company will handle the collection of products from Lavendon's UK storage facilities and will then handle the delivery to customers.
The deal will involve Wincanton using 124 vehicles making more than 200,000 deliveries per year under the deal. Staff working at Lavendon's existing in-house operations will transfer to Wincanton as part of the contract.
"We are delighted to have secured Lavendon as a new client and believe our cross sector logistics expertise, reputation for maximising customers' assets, and the deployment of proven technology systems, will all help Lavendon achieve its ambitious growth plans," said Wincanton Chief Executive Officer Eric Born.
Wincanton shares were up 2.4% to 148.175 pence on Monday, while Lavendon shares were up 0.9% to 178.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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