Tibbett and Britten win US logistics business
LONDON, Jan 29 (Reuters) – UK logistics company Tibbett and Britten Group Plc said on Monday it won a contract from Kmart Corp , the second-biggest U.S. discount retailer, to take over and operate regional distribution centres from February 1.
The sites — in North Carolina and Pennsylvania — employ around 1,200 people and have a combined warehouse area of 3.7 million square feet.
Shares in the group, which have underperformed the transport sector by about 20 percent in the past 12 months, were up 32-1/2 pence or nearly five percent at 695p at 1010 GMT.
“This substantial new contract will reinforce the strong momentum in our rapidly expanding North American operations,” Chairman John Harvey said in a statement.
Tibbett & Britten (LSE: TBG.L – news) , the world’s seventh largest logistics service provider, already has U.S. retail clients that include Safeway (LSE: SFW.L – news) Inc , Kroger Co and Wal-Mart Stores Inc .
