Expansion of Operations
July 22 2003 - 8:51AM
UK Regulatory
RNS Number:8247N
2 Travel Group PLC
22 July 2003
22nd July 2003
2 Travel Group Plc: TLG.L ('2TG' or 'the Company')
2 TRAVEL GROUP PLC
GAINS LICENCE EXTENSION TO EXPAND OPERATIONS
2 Travel Group Plc, the AIM listed South Wales based bus and coach operator has
been issued with a licence extension allowing it to operate a further 30 buses,
expanding its operational capacity to 110 buses. The additional capacity will
enable the Company to expand its existing local authority services, tender for
further opportunities and solidify the Groups position as a leading independent
bus and coach operator in South Wales.
2TG Chief Executive Bev Fowles said: "This is great news for 2 Travel as the
extension not only endorses the quality of our operation, but also enables us to
build on our already substantial services and more importantly take advantage of
potential new contracts as they arise. We are particularly happy that the
Traffic Commissioners Department recognised the quality of our business and
issued the licence extension without the need of going through a public hearing.
"Since joining AIM at the beginning of the year, we have continued to grow the
business. We have won some high profile local coaching contracts the most
prestigious being with the Welsh Rugby Union, where we were made official
carrier of the national team.
"We are excited about the future growth prospects for the Company. Within the
UK, local buses continue to be the dominant form of public transport with the
mature bus market growing at a rate of 1% per annum. We are therefore
positioning the business to take advantage of this growth organically and
through strategic acquisitions."
Bus operator's licences are issued by the Traffic Commissioners Department. The
department executes an inspection to ensure that the operator has sufficient
resources to maintain its buses and routes to the required standard and performs
a thorough investigation of maintenance procedures and systems to ensure that
the quality and safety standards in the industry are maintained.
E N D S
Contacts:
Bev Fowles 2 Travel Group Plc Tel: 01792 483 040
Hugo de Salis/Isabel Crossley St Brides Media & Finance Tel: 020 7242 4477
Notes:
* 2TG has three main divisions: a bus operation, a private charter
coaching operation and an engineering division.
* 2TG's primary business - the bus operation - is centred predominantly
on 3-5 year local authority contracts for school and local services in the
Swansea and Cwmbran areas, although it also undertakes other contract work for
the DVLA, the Royal Ordnance, supermarkets such as Asda and Tesco and ad hoc
work for customers such as National Express.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUUSOROKRBUAR