18th Dec 2008 16:18
18 December 2008
STAGECOACH COMPLETES THE ACQUISITION OF EASTBOURNE BUSES
Commitment to comprehensive, high-quality, affordable bus network
Plans in place for £1.5m investment in new greener buses
No compulsory redundancies for driving and engineering staff
Stagecoach ("the Company"), one of the UK's biggest bus operators, today confirmed that it has completed the acquisition of Eastbourne Buses from Eastbourne Borough Council.
The Company has pledged to invest £1.5 million in new greener buses for the town as part of its plans to ensure local people have access to a comprehensive, high-quality and affordable bus network.
Eastbourne Buses, which has around 150 employees and a fleet of nearly 70 vehicles, and operates out of a depot at Birch Road, Eastbourne. The annual turnover of the business is around £5.6m.
Stagecoach has confirmed that, while there would be some changes to management and administration roles as part of the acquisition, it had given a commitment that there would be no compulsory redundancies amongst driving and engineering staff.
Les Warneford, Managing Director, Stagecoach UK Bus, said: "We are delighted to have signed a contract to purchase Eastbourne Buses and bring significant new investment to local bus services.
"We already have plans to invest £1.5 million in new state-of-the-art vehicles with some of the greenest engines in Europe and we are committed to ensuring that local people have access to a sustainable, comprehensive, high-quality and affordable bus network.
"Stagecoach already has a successful bus operation in the south and south-east of England, employing more than 2,000 people. Eastbourne Buses will enhance our position as a major employer and bus operator in the region.
"While there will inevitably be some changes to the business, we will be looking to build on the strengths of the operation and look forward to working with staff to attract more people to the benefits of greener, smarter bus travel."
Eastbourne Borough Council announced on Tuesday 25 November that Stagecoach had been selected as the preferred bidder for the company following a competitive bid process and best value assessment.
Earlier this week, the council became the 100% shareholder in Eastbourne Buses after adding to its 80% stake by purchasing the other 20% of the business owned by European public transport operator Keolis.
Stagecoach, which has won a clutch of awards for its innovation, high operational standards and excellent customer service, operates more than 7,000 buses in around 100 towns and cities in the UK from the Highlands and Islands of Scotland to the south-west of England.
The contract to purchase Eastbourne Buses, which is for an undisclosed sum, is subject to approval by the Department for Transport.
ENDS
For further information, please contact:
Steve Stewart, Director of Corporate Communications, Stagecoach Group
T: 01738 442111 (office) or 07764 774680 (mobile)
Notes to editors
Stagecoach in East Kent and Hastings employs around 900 people and operates 325 buses. It carries 35 million passengers a year on over 80 different routes across Canterbury, Herne Bay, Thanet, Ashford, Folkestone, Dover and Hastings with some routes extending to Eastbourne and Maidstone.
Stagecoach South runs more than 450 buses on over 115 different routes serving Hampshire, Surrey and Sussex, carrying 33 million passengers a year. The bus network covers Aldershot, Guildford, Camberley, Andover, Basingstoke, Winchester, Portsmouth, Chichester,
Worthing and Brighton, with some routes extending into Wiltshire. The company employs more than 1100 people across seven depots.
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