• ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
American ShipperWarehouse

TIBBETT & BRITTEN REPORTS PROFIT RISE, BUYS MEXICAN 3PL

TIBBETT & BRITTEN REPORTS PROFIT RISE, BUYS MEXICAN 3PL

   Tibbett & Britten, a British logistics company, said Tuesday its operating profit in 2001 rose nearly 10 percent to $57 million, on gains in Europe and North America, its two home markets, as well as in China and South Africa.

   “We have seen no slackening of demand in a developing market,” said John Harvey, executive chairman of the Tibbett & Britten Group.

   Tibbett & Britten also said it has purchased the Dimalsa companies, a large logistics group in Mexico, for approximately $59 million.

   Dimalsa employs 2,300 people, all of whom are transferring to Tibbett & Britten. Major customers include Danone, Gillette, Kellogg, Office Depot, Procter & Gamble, Unilever and Wal-Mart. Dimalsa’s principal warehouses are in Mexico City, Guadalajara, and Monterrey.

   After the Dimalsa acquisition, Tibbett & Britten will employ 36,000 people in 33 countries. As part of the deal, the British provider will assume Dimalsa’s debt of $3.2 million. The final cost will depend on Dimalsa’s trading performance in 2001.

   Tibbett & Britten has also acquired a 38-percent equity stake in Davids Distribution Thailand Ltd., a joint venture logistics company in Thailand for retailers of food and consumer merchandise. The principal shareholder remains Davids Asia, a private Australian logistics group, which will continue to manage Davids Distribution Thailand.

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