• ITVI.USA
    14,270.140
    -77.460
    -0.5%
  • OTRI.USA
    22.470
    0.090
    0.4%
  • OTVI.USA
    14,258.910
    -85.130
    -0.6%
  • TLT.USA
    2.790
    0.030
    1.1%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    14,270.140
    -77.460
    -0.5%
  • OTRI.USA
    22.470
    0.090
    0.4%
  • OTVI.USA
    14,258.910
    -85.130
    -0.6%
  • TLT.USA
    2.790
    0.030
    1.1%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • WAIT.USA
    127.000
    0.000
    0%
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.