NZ Truck & Driver News

 
TIL, recently “bought,” now a big buyer

TIL, recently “bought,” now a big buyer

NZ Truck & Driver News

 March 2018   
Til Logistics will soon have the largest fleet of MAN trucks in Australia and New Zealand, following its latest purchase of the German-built trucks.

It has bought 36 TGS day cab and TGX XL sleeper cab models, in 6x4 and 8x4 formats, from distributor Penske NZ.

The trucks, which have power ratings ranging between 480 horsepower and 540hp, take TIL Logistics' MAN fleet to around 200 units.

"Overall the acceptance of MAN products across the fleet has been extremely positive," says TIL Logistics managing director Jim Ramsay.

"Our drivers like the trucks, the fuel economy is a huge plus and I've received many comments about how great the trucks look – which is a big positive for our company image.

"Working with Penske NZ is a pleasure. It's an open and ethical organisation to do business with. I appreciate that – as I appreciate the great service and personal attention that we receive."

Penske NZ national sales manager – trucks, Dean ...

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Til Logistics will soon have the largest fleet of MAN trucks in Australia and New Zealand, following its latest purchase of the German-built trucks.

It has bought 36 TGS day cab and TGX XL sleeper cab models, in 6x4 and 8x4 formats, from distributor Penske NZ.

The trucks, which have power ratings ranging between 480 horsepower and 540hp, take TIL Logistics' MAN fleet to around 200 units.

"Overall the acceptance of MAN products across the fleet has been extremely positive," says TIL Logistics managing director Jim Ramsay.

"Our drivers like the trucks, the fuel economy is a huge plus and I've received many comments about how great the trucks look – which is a big positive for our company image.

"Working with Penske NZ is a pleasure. It's an open and ethical organisation to do business with. I appreciate that – as I appreciate the great service and personal attention that we receive."

Penske NZ national sales manager – trucks, Dean Hoverd says that the company has worked with TIL for several years, so was aware of the key factors that would decide what trucks TIL would buy…."so we knew that safety and technology features were important, as was reliability, fuel economy and low whole-of-life costs.

"With sound leadership, TIL has experienced huge growth and it's been exciting to work closely with the team to plan their future fleet requirements and to watch them successfully grow their business."

TIL brands include Hooker Pacific, TNL, Roadstar, Pacific Fuel Haul, TIL Freight, McAuley's, MOVE Logistics and NZL.

Last year Transport Logistics secured a listing on the NZ Stock Exchange by completing a reverse-listing deal with NZX-listed company Bethunes Investments.

Under the deal, TIL – said to have a market value of $200million and to have generated $320million in pro forma revenue in the financial year ended last June – was "acquired" by Bethunes shareholders…who ended up with 0.6% of TIL.

Ramsay said then of the deal: "We are delighted to be bringing TIL to the public domain, with the support of Bethunes shareholders. This transaction secures the future of TIL as one of NZ's leading domestic freight and logistics companies and we are looking forward to taking advantage of a range of genuine growth opportunities which are available to TIL."

Ramsay said that the deal provided TIL shareholders with "a commercially sensible, viable and timely path" to listing the business on the NZ Stock Exchange.

"TIL has been evaluating a public listing for some time," he added.

Trevor Janes, the incoming chairman of the new entity (Bethunes changed its name to TIL Logistics Group Ltd), said that the now publicly listed company had "a number of very real and tangible opportunities in our sights and are poised to start realising the company's growth ambitions.

"The outlook for the freight industry is positive and will drive stable revenue and earnings growth for the company. Along with strong forecast cash generation, this provides the ability to invest into business expansion and acquisition as well as reward shareholders with attractive returns."


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