Rotala Management - Questions & Answers

[Simon Dunn]

Hi Simon,

Saw this in latest Bus & Coach buyer, may/may not be of interest? The price seems good compared to the 2 x 57 (£60k) /08 (£63k) plate E300's that were for sale at Nigel McCree for a while

2007 57 ENVIRO 300
Euro 4 6 cyl Cummins engine with
Allison auto box, 42 seats with 3 point
belts plus standing. Very little use hence
low mileage of 153,000. In excellent
condition with 12 months MoT.
First to see will buy
£45,350 plus VAT OVNO
Tel : 01978 824666 / 0756 540 5060

I also came across these 07 plate Scania N230/East Lancs ex Reading Buses, may be suitable for Preston?
http://www.nigelmccree.com/index.php/for-sale/deckers/item/641-2007-scania-n230ud-olympus

Winston,

I am looking to dispose of some vehicles before we look to acquire anything



Simon

[Cedric]

Simon 
when will the new timetables for Worcestershire  services be on the site or available to pick up please I am traveling on the 1/9/14

[winston]

Hi Simon,

1. I appreciate that you would prefer to sell some vehicles first before acquiring others, but what happens if/when you eventually do sell some of the advertised  vehicles and then there are little or no suitable full size replacement vehicles available? I don't believe there is currently the option to acquire any dealer stock B7RLE/Wright, as they have all gone on lease to Malta. It appears until the end of 2015 at least; used full size single deckers are at a premium (especially B7RLE/Wright) and are being snapped up fairly quickly with operators looking to meet DDA that can't afford/don't want to buy new Euro 6 buses. With Rotala Plc's reliance primarily on used acquisitions, would it not be a better policy to snap up suitable E300's & B7RLE Wright/Plaxton combo's as they come on the used market? There have been numerous 2004-2008 E300's come on the used market in recent months which could have been acquired to build the E300 fleet at Redditch & allow B7RLE's to be cascaded out to Tividale / Long Acre or other areas or as an alternative option RH's 54/55 plate E300's (ex Hanson's) & similar aged used E300's could have also have been cascaded to KR for upgrading the X3 or 292. Worst case scenario, if you can't sell the vehicles yourselves, can Rotala not trade them in against new acquisitions with dealers?

Obviously there were other reasons for the decision to dispose of the Citaro's, VDL's & Wessex E200's that didn't just centre around the need to raise capital for more full size group stand replacements

2. Now the extent of Diamond's WCC wins/losses & timetable variations have been confirmed on WCC's website, will the above changes have much effect on the depot Pvr's at both Redditch & Kidderminster?

3. Where is withdrawn B7RLE 30002 destined to move to?

4. Is the White 'British Airways shuttle' livered Plaxton Centro pictured in the workshops at Long Acre 30302?

Further to Rotala's recent half year results announcement, I just wanted to pick up on some of the comments in the Chairman's statement:

5. 'In the short to medium term we see a low requirement for replacement vehicles'

From the above it sounds as though Rotala Plc are only intending to buy very few new/used buses for the foreseeable unless new contracts dictate otherwise. If you analyze the Rotala fleet make-up, although the average fleet age is up there amongst other groups, despite the average age there are actually only 111 (buses & coaches) which are 10 plate or newer (4 years old or younger) which is approx 21% of the fleet based on group fleet strength of 530 buses. In addition there are high concentrations of buses that were bought new for Wessex & Diamond during 2007-2008 & Preston purchased new been 2006-2008 which are now at/approaching midlife. With the above in mind, wouldn't it be a more prudent policy for Rotala to buy smaller regular batches of new buses annually in addition to acquiring modern used acquisitions  a couple of years old (approx 40 additions in total annually) to prevent large-scale capital expenditure being required in future years for fleet replacement?

6. 'the fleet is in good condition, well matched to the demands being placed upon it'

As you have openly said on the forum, you consider the Diamond fleet especially to have too many small buses, there are still frequent reports of packed MPD's appearing on busy routes all day at KR, RH & TE depots. The MPD's are ok, but they don't offer the ride quality of bigger buses and many have the Urban 90 seats with minimum seat cushions. Using KR as an example whose routes can't support newer full size single deckers, could Rotala not consider buying the ex Pennine full length Darts for sale at Ensign (some of which are sister vehicles to KR 's current fleet) and part exchange them with the V65*HEC MPD's ? KR then gets a higher proportion of full size Darts and a slightly more modern fleet. 

7. 'We have a strong and experienced management team and remain on the lookout for suitable acquisitions'

Based on the proposals for using improved cash flows below, it doesn't sound very hopeful that Rotala will be making any acquisitions in short to medium term. With First increasing competition in Bristol, I'd personally like to see Rotala strengthen the Wessex business with bolt-on acquisitions of independents with established commercial routes in/around the Bristol/Bath areas. The same applies to Diamond both in the West Midlands & Worcestershire or even consider adjacent areas such as Warwickshire

8. 'We will also look to using our existing permissions to buy back ordinary shares for cancellation or treasury should market conditions and cash flows permit'

I was always under the impression that share buys programmes were only embarked upon by PLC's when they were cash rich, suitable acquisitions could not be found and they had little or no debt? Wouldn't Rotala be better to use any excess cash generated to reduce debt levels? Thus reducing finance charges, increasing pre-tax profits & earnings per share and it would still allow Rotala to pursue the increased dividend policy? Nett assets would also increase, which could also have a positive impact on the shareprice / market valuation of the group.  Surely with lower levels of debt, it would give Rotala greater flexibility / financial fire power / borrowing ability should a suitable large acquisition become available in the future.

Apologies for the essay, I just wanted to get some of my points across in greater detail, I look forward to your response,

[Simon Dunn]

Hi Simon,

1. I appreciate that you would prefer to sell some vehicles first before acquiring others, but what happens if/when you eventually do sell some of the advertised  vehicles and then there are little or no suitable full size replacement vehicles available? I don't believe there is currently the option to acquire any dealer stock B7RLE/Wright, as they have all gone on lease to Malta. It appears until the end of 2015 at least; used full size single deckers are at a premium (especially B7RLE/Wright) and are being snapped up fairly quickly with operators looking to meet DDA that can't afford/don't want to buy new Euro 6 buses. With Rotala Plc's reliance primarily on used acquisitions, would it not be a better policy to snap up suitable E300's & B7RLE Wright/Plaxton combo's as they come on the used market? There have been numerous 2004-2008 E300's come on the used market in recent months which could have been acquired to build the E300 fleet at Redditch & allow B7RLE's to be cascaded out to Tividale / Long Acre or other areas or as an alternative option RH's 54/55 plate E300's (ex Hanson's) & similar aged used E300's could have also have been cascaded to KR for upgrading the X3 or 292. Worst case scenario, if you can't sell the vehicles yourselves, can Rotala not trade them in against new acquisitions with dealers?

Obviously there were other reasons for the decision to dispose of the Citaro's, VDL's & Wessex E200's that didn't just centre around the need to raise capital for more full size group stand replacements

2. Now the extent of Diamond's WCC wins/losses & timetable variations have been confirmed on WCC's website, will the above changes have much effect on the depot Pvr's at both Redditch & Kidderminster?

3. Where is withdrawn B7RLE 30002 destined to move to?

4. Is the White 'British Airways shuttle' livered Plaxton Centro pictured in the workshops at Long Acre 30302?

Further to Rotala's recent half year results announcement, I just wanted to pick up on some of the comments in the Chairman's statement:

5. 'In the short to medium term we see a low requirement for replacement vehicles'

From the above it sounds as though Rotala Plc are only intending to buy very few new/used buses for the foreseeable unless new contracts dictate otherwise. If you analyze the Rotala fleet make-up, although the average fleet age is up there amongst other groups, despite the average age there are actually only 111 (buses & coaches) which are 10 plate or newer (4 years old or younger) which is approx 21% of the fleet based on group fleet strength of 530 buses. In addition there are high concentrations of buses that were bought new for Wessex & Diamond during 2007-2008 & Preston purchased new been 2006-2008 which are now at/approaching midlife. With the above in mind, wouldn't it be a more prudent policy for Rotala to buy smaller regular batches of new buses annually in addition to acquiring modern used acquisitions  a couple of years old (approx 40 additions in total annually) to prevent large-scale capital expenditure being required in future years for fleet replacement?

6. 'the fleet is in good condition, well matched to the demands being placed upon it'

As you have openly said on the forum, you consider the Diamond fleet especially to have too many small buses, there are still frequent reports of packed MPD's appearing on busy routes all day at KR, RH & TE depots. The MPD's are ok, but they don't offer the ride quality of bigger buses and many have the Urban 90 seats with minimum seat cushions. Using KR as an example whose routes can't support newer full size single deckers, could Rotala not consider buying the ex Pennine full length Darts for sale at Ensign (some of which are sister vehicles to KR 's current fleet) and part exchange them with the V65*HEC MPD's ? KR then gets a higher proportion of full size Darts and a slightly more modern fleet. 

7. 'We have a strong and experienced management team and remain on the lookout for suitable acquisitions'

Based on the proposals for using improved cash flows below, it doesn't sound very hopeful that Rotala will be making any acquisitions in short to medium term. With First increasing competition in Bristol, I'd personally like to see Rotala strengthen the Wessex business with bolt-on acquisitions of independents with established commercial routes in/around the Bristol/Bath areas. The same applies to Diamond both in the West Midlands & Worcestershire or even consider adjacent areas such as Warwickshire

8. 'We will also look to using our existing permissions to buy back ordinary shares for cancellation or treasury should market conditions and cash flows permit'

I was always under the impression that share buys programmes were only embarked upon by PLC's when they were cash rich, suitable acquisitions could not be found and they had little or no debt? Wouldn't Rotala be better to use any excess cash generated to reduce debt levels? Thus reducing finance charges, increasing pre-tax profits & earnings per share and it would still allow Rotala to pursue the increased dividend policy? Nett assets would also increase, which could also have a positive impact on the shareprice / market valuation of the group.  Surely with lower levels of debt, it would give Rotala greater flexibility / financial fire power / borrowing ability should a suitable large acquisition become available in the future.

Apologies for the essay, I just wanted to get some of my points across in greater detail, I look forward to your response,

Winston,

In response to your points

1.  I have a grasp of stock for new vehicles, and I am not concerned about second hand vehicles being snapped up. 

2.  Overall I understand that Redditch and Kidderminster PVR are static.  Kidderminster is up by 2/3 and Reddtich is down by 2/3

3.  30002 will be used in the West Midlands upon return to service, so will be FJ57CYW, and YJ07JRU

4.  30302 is the white vehicle at Long Acre.

5.  As you say the words used in the announcement is "low requirement for replacement vehicles", this doesnt mean we are not intending to do nothing.

6.  I do believe the fleet is in good condition, like any fleet there is some revolving requirements, and we are working to resolve them.   

7.  I too would like to make acquisitions.  We have the ability to do so, and continue to look at opportunities.  Clearly businesses were we can reduce depot overhead always make more sense were available. 

8.  Like any PLC shareholders expect improve Earnings per share.  As we deliver excess cash, and if we are not making acquistions one use of the cash would be reduce the number of shares. 



Simon

[iamwilljh92]

Hi Simon,

I've noticed on the fleet change from July that 30904 (W904 JNF) has been withdrawn from Kidderminster just wondering why this is as it is a sound vehicle I'm assuming it's because it's not DDA compliant or is there other reasons?

Also I have noticed 30516 (W906 JNF) has been withdrawn from Redditch well could Kidderminster not have this vehicle as a replacement for 30904 otherwise this is going to leave KR a vehicle short just an idea I've had

Will

[Simon Dunn]

Hi Simon,

I've noticed on the fleet change from July that 30904 (W904 JNF) has been withdrawn from Kidderminster just wondering why this is as it is a sound vehicle I'm assuming it's because it's not DDA compliant or is there other reasons?

Also I have noticed 30516 (W906 JNF) has been withdrawn from Redditch well could Kidderminster not have this vehicle as a replacement for 30904 otherwise this is going to leave KR a vehicle short just an idea I've had

Will

Will

W904JNF has an engine fault, which we need to resolve with the repairer.

W906JNF has a mechanical defect, we intend to repaint, etc and return




Simon

[iamwilljh92]

Hi Simon,

I've noticed on the fleet change from July that 30904 (W904 JNF) has been withdrawn from Kidderminster just wondering why this is as it is a sound vehicle I'm assuming it's because it's not DDA compliant or is there other reasons?

Also I have noticed 30516 (W906 JNF) has been withdrawn from Redditch well could Kidderminster not have this vehicle as a replacement for 30904 otherwise this is going to leave KR a vehicle short just an idea I've had

Will

Will

W904JNF has an engine fault, which we need to resolve with the repairer.

W906JNF has a mechanical defect, we intend to repaint, etc and return




Simon

Many thanks for you responce Simon as always just thinking while W904 JNF is away could a temporary vehicle be allocated to KR for the time being?

[Simon Dunn]

Hi Simon,

I've noticed on the fleet change from July that 30904 (W904 JNF) has been withdrawn from Kidderminster just wondering why this is as it is a sound vehicle I'm assuming it's because it's not DDA compliant or is there other reasons?

Also I have noticed 30516 (W906 JNF) has been withdrawn from Redditch well could Kidderminster not have this vehicle as a replacement for 30904 otherwise this is going to leave KR a vehicle short just an idea I've had

Will

Will

W904JNF has an engine fault, which we need to resolve with the repairer.

W906JNF has a mechanical defect, we intend to repaint, etc and return




Simon

Many thanks for you responce Simon as always just thinking while W904 JNF is away could a temporary vehicle be allocated to KR for the time being?

Will

As you know, the Engineering for Kidderminster is controlled by the same person as Tividale.  If he thinks it appropriate or a problem occurs he will act


Simon

[winston]

Winston,

In response to your points

1.  I have a grasp of stock for new vehicles, and I am not concerned about second hand vehicles being snapped up. 

2.  Overall I understand that Redditch and Kidderminster PVR are static.  Kidderminster is up by 2/3 and Reddtich is down by 2/3

3.  30002 will be used in the West Midlands upon return to service, so will be FJ57CYW, and YJ07JRU

4.  30302 is the white vehicle at Long Acre.

5.  As you say the words used in the announcement is "low requirement for replacement vehicles", this doesnt mean we are not intending to do nothing.

6.  I do believe the fleet is in good condition, like any fleet there is some revolving requirements, and we are working to resolve them.   

7.  I too would like to make acquisitions.  We have the ability to do so, and continue to look at opportunities.  Clearly businesses were we can reduce depot overhead always make more sense were available. 

8.  Like any PLC shareholders expect improve Earnings per share.  As we deliver excess cash, and if we are not making acquistions one use of the cash would be reduce the number of shares. 

Simon

Hi Simon,

Many thanks for your responses to my points, to a couple more to add,

2. I take it the increase in KR Pvr will be the result of the Droitwich town services being operated out of there

6. I would personally like to see the last of the 'Go West Midlands liveried' Darts be withdrawn and possibly something done with the ex Swift 226 red Darts. I'd also quite like to see maybe one possibly two higher profile Diamond routes re-launched each year with new/nearly new buses i.e. 002 (the branded B7RLE/Centro's appear to becoming more & more unreliable and seem to spend quite a bit of time parked up in Tividale), maybe one the Sandwell 'Value' branded routes to coincide with NXWM's investment within Sandwell? Also, is there any possibility of the 57/58 being upgraded with new /nearly new buses in Redditch?

7. Is differences in valuations / price normally the main stumbling block on concluding a deal? Clearly businesses where we can reduce depot overhead always make more sense were available. From this comment are you referring to businesses that could be absorbed it to existing Rotala depots as happened with Ludlows etc?

8. Doesn't reducing debt levels also improve earning per share through larger retained profits due to falling finance cost, increases in dividends, the stock market may re-value the groups shares due to falling debt levels/increases in nett asset values. Admittedly the earnings per share wouldn't increase as quickly as reducing the number of shares, but surely shareholders & the Group would benefit from reduced debt levels. Would it not also give Rotala scope for future bigger acquisitions if the right one came along? Or is it a case that debt finance costs are that low due to the current rate of interest that you would loose more on the extra corporation tax being paid on increased profits/against the savings you'd make of finance costs if debt was reduced by say £1 million etc? 

[Simon Dunn]

Winston,

In response to your points

1.  I have a grasp of stock for new vehicles, and I am not concerned about second hand vehicles being snapped up. 

2.  Overall I understand that Redditch and Kidderminster PVR are static.  Kidderminster is up by 2/3 and Reddtich is down by 2/3

3.  30002 will be used in the West Midlands upon return to service, so will be FJ57CYW, and YJ07JRU

4.  30302 is the white vehicle at Long Acre.

5.  As you say the words used in the announcement is "low requirement for replacement vehicles", this doesnt mean we are not intending to do nothing.

6.  I do believe the fleet is in good condition, like any fleet there is some revolving requirements, and we are working to resolve them.   

7.  I too would like to make acquisitions.  We have the ability to do so, and continue to look at opportunities.  Clearly businesses were we can reduce depot overhead always make more sense were available. 

8.  Like any PLC shareholders expect improve Earnings per share.  As we deliver excess cash, and if we are not making acquistions one use of the cash would be reduce the number of shares. 

Simon

Hi Simon,

Many thanks for your responses to my points, to a couple more to add,

2. I take it the increase in KR Pvr will be the result of the Droitwich town services being operated out of there

6. I would personally like to see the last of the 'Go West Midlands liveried' Darts be withdrawn and possibly something done with the ex Swift 226 red Darts. I'd also quite like to see maybe one possibly two higher profile Diamond routes re-launched each year with new/nearly new buses i.e. 002 (the branded B7RLE/Centro's appear to becoming more & more unreliable and seem to spend quite a bit of time parked up in Tividale), maybe one the Sandwell 'Value' branded routes to coincide with NXWM's investment within Sandwell? Also, is there any possibility of the 57/58 being upgraded with new /nearly new buses in Redditch?

7. Is differences in valuations / price normally the main stumbling block on concluding a deal? Clearly businesses where we can reduce depot overhead always make more sense were available. From this comment are you referring to businesses that could be absorbed it to existing Rotala depots as happened with Ludlows etc?

8. Doesn't reducing debt levels also improve earning per share through larger retained profits due to falling finance cost, increases in dividends, the stock market may re-value the groups shares due to falling debt levels/increases in nett asset values. Admittedly the earnings per share wouldn't increase as quickly as reducing the number of shares, but surely shareholders & the Group would benefit from reduced debt levels. Would it not also give Rotala scope for future bigger acquisitions if the right one came along? Or is it a case that debt finance costs are that low due to the current rate of interest that you would loose more on the extra corporation tax being paid on increased profits/against the savings you'd make of finance costs if debt was reduced by say £1 million etc?

Winston,

2.  This is the main difference.

6.  Over the last year we have modernise both the fleets in Redditch and Tividale, and we aim to continue to do so.

7.  The main stumbling block is normally price, and yes Ludlows would be an example of a business which could be absorbed into existing Rotala depots.

8.  Our current level of debt is at an acceptable level, and if you follow our underlying debt cost over the years from the PLC accounts it has continued to reduce.  Yes, less debt will grow earnings but not materially. 



Simon

[winston]

Winston,

In response to your points

1.  I have a grasp of stock for new vehicles, and I am not concerned about second hand vehicles being snapped up. 

2.  Overall I understand that Redditch and Kidderminster PVR are static.  Kidderminster is up by 2/3 and Reddtich is down by 2/3

3.  30002 will be used in the West Midlands upon return to service, so will be FJ57CYW, and YJ07JRU

4.  30302 is the white vehicle at Long Acre.

5.  As you say the words used in the announcement is "low requirement for replacement vehicles", this doesnt mean we are not intending to do nothing.

6.  I do believe the fleet is in good condition, like any fleet there is some revolving requirements, and we are working to resolve them.   

7.  I too would like to make acquisitions.  We have the ability to do so, and continue to look at opportunities.  Clearly businesses were we can reduce depot overhead always make more sense were available. 

8.  Like any PLC shareholders expect improve Earnings per share.  As we deliver excess cash, and if we are not making acquistions one use of the cash would be reduce the number of shares. 

Simon

Hi Simon,

Many thanks for your responses to my points, to a couple more to add,

2. I take it the increase in KR Pvr will be the result of the Droitwich town services being operated out of there

6. I would personally like to see the last of the 'Go West Midlands liveried' Darts be withdrawn and possibly something done with the ex Swift 226 red Darts. I'd also quite like to see maybe one possibly two higher profile Diamond routes re-launched each year with new/nearly new buses i.e. 002 (the branded B7RLE/Centro's appear to becoming more & more unreliable and seem to spend quite a bit of time parked up in Tividale), maybe one the Sandwell 'Value' branded routes to coincide with NXWM's investment within Sandwell? Also, is there any possibility of the 57/58 being upgraded with new /nearly new buses in Redditch?

7. Is differences in valuations / price normally the main stumbling block on concluding a deal? Clearly businesses where we can reduce depot overhead always make more sense were available. From this comment are you referring to businesses that could be absorbed it to existing Rotala depots as happened with Ludlows etc?

8. Doesn't reducing debt levels also improve earning per share through larger retained profits due to falling finance cost, increases in dividends, the stock market may re-value the groups shares due to falling debt levels/increases in nett asset values. Admittedly the earnings per share wouldn't increase as quickly as reducing the number of shares, but surely shareholders & the Group would benefit from reduced debt levels. Would it not also give Rotala scope for future bigger acquisitions if the right one came along? Or is it a case that debt finance costs are that low due to the current rate of interest that you would loose more on the extra corporation tax being paid on increased profits/against the savings you'd make of finance costs if debt was reduced by say £1 million etc?

Winston,

2.  This is the main difference.

6.  Over the last year we have modernise both the fleets in Redditch and Tividale, and we aim to continue to do so.

7.  The main stumbling block is normally price, and yes Ludlows would be an example of a business which could be absorbed into existing Rotala depots.

8.  Our current level of debt is at an acceptable level, and if you follow our underlying debt cost over the years from the PLC accounts it has continued to reduce.  Yes, less debt will grow earnings but not materially. 

Simon

Thanks Simon,

6. I'm not disputing Rotala haven't modernized Redditch & Tividale fleets, but with both Redditch & Tividale other than the 5 x 63 plate DF Streelights & 4 x 13 plate B7RLE/Wright respectively, then ther's quite a big gap between those and next newest, i.e. the remainder of the front-line full size singles deckers are all of similar age i.e 07 / 57 / 08 / 58 & 09 (the earliest of which are getting close to midlife). Is it really not viable for Rotala to buy smaller quantities of new vehicles for Diamond on an annual basis, even if it was say just 10 each & every year and put the stock on to the highest earning routes/routes with most potential to grow patronage? Surely with all the new vehicle investment NX are putting on the roads of the West Midland by the end of 2015, Rotala may need to consider investing more as well?

7. Obviously if you could tempt any of he likes of Claribels / Hansons / Johnsons (bus only side) / Whittle's (bus side only) to join the Rotala fold, they would fit the desired criteria in the West Midlands, DeCourcey could provide the base that you have been searching for in Long Acre's Coventry / Solihull Signature work. I assume even Birmingham International Coaches would compliment the Flights Hallmark business. With Abus & Faresaver fitting the same criteria for Wessex region.

What's the matter with Wessex WF Streetlite MX60BWP?
https://www.flickr.com/photos/99180483@N03/14867894261/

[iamwilljh92]

7. Obviously if you could tempt any of he likes of Claribels / Hansons / Johnsons (bus only side) / Whittle's (bus side only) to join the Rotala fold, they would fit the desired criteria in the West Midlands, DeCourcey could provide the base that you have been searching for in Long Acre's Coventry / Solihull Signature work. I assume even Birmingham International Coaches would compliment the Flights Hallmark business. With Abus & Faresaver fitting the same criteria for Wessex region.

I am HIGHLY in favour of Rotala purchasing Whittle's @Winston but it occurs to me that Rotala are either
a) digging they're heels in or
b) just aren't interested

Either one I don't have a clue but at least if they did I could finally get a job back with Diamond/Rotala

[winston]

7. Obviously if you could tempt any of he likes of Claribels / Hansons / Johnsons (bus only side) / Whittle's (bus side only) to join the Rotala fold, they would fit the desired criteria in the West Midlands, DeCourcey could provide the base that you have been searching for in Long Acre's Coventry / Solihull Signature work. I assume even Birmingham International Coaches would compliment the Flights Hallmark business. With Abus & Faresaver fitting the same criteria for Wessex region.

I am HIGHLY in favour of Rotala purchasing Whittle's @Winston but it occurs to me that Rotala are either
a) digging they're heels in or
b) just aren't interested

Either one I don't have a clue but at least if they did I could finally get a job back with Diamond/Rotala

Will,

You missed:

c) EYMS don't want to sell out
d) Competition issues may prevent Rotala from ever acquiring the Whittle's bus business if it became for sale

I thought you left your job @ Diamond KR?

[iamwilljh92]

7. Obviously if you could tempt any of he likes of Claribels / Hansons / Johnsons (bus only side) / Whittle's (bus side only) to join the Rotala fold, they would fit the desired criteria in the West Midlands, DeCourcey could provide the base that you have been searching for in Long Acre's Coventry / Solihull Signature work. I assume even Birmingham International Coaches would compliment the Flights Hallmark business. With Abus & Faresaver fitting the same criteria for Wessex region.

I am HIGHLY in favour of Rotala purchasing Whittle's @Winston but it occurs to me that Rotala are either
a) digging they're heels in or
b) just aren't interested

Either one I don't have a clue but at least if they did I could finally get a job back with Diamond/Rotala

Will,

You missed:

c) EYMS don't want to sell out
d) Competition issues may prevent Rotala from ever acquiring the Whittle's bus business if it became for sale

I thought you left your job @ Diamond KR?

Yes I did leave and now regretting it...

[Liverpool Street]

7. Obviously if you could tempt any of he likes of Claribels / Hansons / Johnsons (bus only side) / Whittle's (bus side only) to join the Rotala fold, they would fit the desired criteria in the West Midlands, DeCourcey could provide the base that you have been searching for in Long Acre's Coventry / Solihull Signature work. I assume even Birmingham International Coaches would compliment the Flights Hallmark business. With Abus & Faresaver fitting the same criteria for Wessex region.

I am HIGHLY in favour of Rotala purchasing Whittle's @Winston but it occurs to me that Rotala are either
a) digging they're heels in or
b) just aren't interested

Either one I don't have a clue but at least if they did I could finally get a job back with Diamond/Rotala

Will,

You missed:

c) EYMS don't want to sell out
d) Competition issues may prevent Rotala from ever acquiring the Whittle's bus business if it became for sale

I thought you left your job @ Diamond KR?

Yes I did leave and now regretting it...

Why? Weren't the hours long enough for you...........