Bus companies look abroad for new routes to growth

Article Abstract:

First Group is acquiring Ryder Public Transportation Services (RPTS) for $940 million, and a rights issue to raise 238 million pounds sterling will help fund this. This gives First Group access to the school bus market, public fleet maintenance and public transport management, all of which are growing markets. The company's net debt will rise to 850 million pounds sterling. First Group is seeking further acquisitions in the US, where growth rates are similar to those of the United Kingdom a decade ago.

First Group (UK), Ryder Public Transportation Services

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Cowie

Article Abstract:

Cowie acquired British Bus in Jun 1996 which makes bus lines the biggest division for the new group. British Bus was acquired for 282 million pounds sterling. Cowie will also rank second among UK bus lines. The company's bus operations in London, England, have performed well, increasing the number of passengers and reducing costs. The bus and car dealerships are not performing as well. A rationalization by car manufacturers of their networks should help improve car distribution returns for Cowie.

Management, Cowie Group PLC

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Railtrack lines up as favourite for Tube sell-off

Article Abstract:

The government will soon reveal its blueprint for the sell-off of London Underground and it is expected that Railtrack will be the main beneficiary. The government is aiming to award concessions before May 2000 but there have been delays due to the complexity in breaking up the underground system. It is likely that Railtrack will get a negotiated deal, while the remainder will be competitively tendered.

United Kingdom, Rail Mass Transit, Planning, Network Rail Infrastructure Ltd., Transportation industry, London, England, Transportation, Subways, Privatization, Privatization (Business)

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