Palletways has taken a minority stake in Lichfield-based fourth party logistics provider X2, which offers access to 2,000 vehicles, and three million square feet of warehousing space through the Palletways network and other strategic partners.
Craig Hibbert, managing director of Palletways UK Member Network, will also have a seat on the X2 board. He said: “As the main strategic partner of X2, our network will be able to offer an enhanced range of transport services to customers across the UK. In addition, those members in our network, who require additional fleet capacity, will be able to benefit by providing customers with a dedicated stand trailer and trailer collection resource through X2.”
Palletways’ central stockholding facility, Stargate Logistics, will benefit from the deal as it will be able to handle any fast response storage-to-delivery requirements as part of X2’s logistics service package.
X2 was founded in 2003 by members of the Palletways UK distribution network including Walkers Transport, which operates from Leeds and Manchester and Scottish Transport company Dalkeith.