Wincanton is targeting collaborative transport systems along with multi-channel retailing as key areas of growth over the coming year following the sale of its continental business.
The European Commission has approved the proposed acquisition of the Wincanton’s continental business by German company Rhenus, saying it did not raise competition concerns.
In addition, it has concluded the £260 million refinancing of its existing bank facility, which was due to expire in November 2012.
Chief executive, Eric Born, said the European sale and refinancing announcements meant the company could forge ahead with plans to deliver profitable growth in the UK and Ireland.
“This is an important step in the overall repositioning of Wincanton following the withdrawal from mainland Europe,” he said.
Born said key areas for delivering growth in 2012 and beyond included collaborative transport for customers and addressing supply chain issues connected with the boom in multi-channel retailing.
“Our customers have come to expect new and innovative ways for us to improve through efficiencies,” he said. “Collaborative transport – where our customers share resources – fits into our existing sustainable transport model and allows us to build on our promise to deliver value despite challenging market conditions.”
On multi-channel retailing, Born said: “The explosion in internet retailing presents an exciting growth sector that throws up all kinds of supply-chain challenges for which Wincanton is finding and rolling out solutions for our new and existing customers. We‘re working hard to ensure that in this digital, multi-channel, age we too continue to innovate and provide cost-effective solutions, whilst at the same time delivering profitable growth in a demanding sector.”