In our last issue we profiled the history of Seddon now we resume the story as the company merges with rival Atkinson and heads into troubled times
Seddon and rival Atkinson were doing well in 1970, both manufacturers having begun the decade with more than 12 months of guaranteed work in their order books. But beneath the surface things were different.
In 1969 Seddon had a turnover of £10.6 million. However, its net profits were only £457,000. In the same year, Atkinson turned over £9.3m but its bottom line was a depressing £177,000. For Atkinson, this predicament was viewed by some as making it ripe for a takeover – a possibility because, back in 1948, Atkinson’s owners, the Allen family, had floated the Preston-based company on the Stock Exchange.
A takeover battle began in June 1970, when ERF made a bid for Atkinson, followed by a counter-bid from Foden. Both parties continued with further bids and counter-bids but eventually Seddon made a much more desirable offer, valuing Atkinson at approximately £5m – about £800,000 better than ERF’s pitch. In November 1970 Seddon’s bid was successful and Atkinson came under Seddon ownership. Most of the transport industry saw this as a bizarre role reversal of what might have been.
Although this happened when the UK had more truck manufacturers than you could shake a stick at, it was also in the days of an invasion by the Scandinavians and the Dutch, not forgetting the German manufacturers, who already had a foothold and also saw the opportunity to concentrate efforts in the UK market. Atkinson’s management were bewildered by the situation and a lot of bad feeling emerged towards the new owners.
Long histories
Bu hikaye Truck & Driver dergisinin November 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Truck & Driver dergisinin November 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Well forked Daf
Remember, we like to cover all sorts of different trucks here at T&D – like this impressive new CF rigid complete with Moffett Mounty forklift
King of the hill
Moving heavy equipment off road calls for a truck with plenty of power and traction, which is why M&J Plant chose a mighty 6x4 FH16 750
Time Machine 2015-2019
It’s the final part of our series on the history of UK haulage. Let’s look back at those innocent times before that pesky virus turned up
Original and best
There are few trucks which have been customised to the level of the Scania 143, but let’s not forget that the standard product was pretty awesome just as it left the factory, like this rare 420
GOING ALL THE WAY
Simon Rogers got behind the wheel as soon as he was able to, and nearly 30 years later, his company is going from strength to strength, with a striking all-black, top-spec Iveco S-Way 570 the latest addition to the fleet
Abnormal loads
In the distant past, when dinosaurs roamed the planet, truck drivers were a very different breed, made from sterner stuff than us mere mortals
Range change
After a gap of 13 years, Renault trucks have reappeared in the unique colours of MacRitchie Highland Distribution. T&D takes the high road to Inverness to meet owners, Donald and Catriona MacRitchie
Cutting a dash
Freshly showered and munching a healthy egg and cress sarnie in Gloucester North services, Chris has a Foden update
Air we go!
On Saturday 29 May at 6pm, 240 drivers gathered with their trucks at South Mimms Services for a parade to raise vital money for Essex & Hertfordshire Air Ambulance
A Cutt Above
From coal to turf to fencing and loads more, there’s not much the Calcutt fleet hasn’t transported over the years