60 transport jobs to go as Centurion buys Regal general freight business
About sixty jobs will be lost after K&S Corporation agreed to sell its Regal general freight business in WA to Centurion.
K&S told the market that Centurion had bought Regal’s general freight contracts for a nominal price and would have access to its fleet at commercial rates for a transition period.
Regal’s heavy haulage business will continue to be operated by K&S.
A Centurion spokesman said the Perth-based company would offer employment to about 90 of the 150 employees of Regal’s general freight business.
Centurion chief executive Justin Cardaci said increased scale from the acquisition of the Regal business would enable Centurion to remain cost competitive.
“Centurion’s business is focussed on Australia’s resource-rich areas, so we possess comprehensive knowledge and understanding of Regal’s Pilbara and Kimberley-focussed business, customers and routes,” he said.
Centurion will expand its current fleet of 1500 prime movers and trailers to service Regal’s customers.
K&S said the business was sold to improve shareholder returns and it would release about $7 million in working capital.
The two companies plan to complete the sale by 30 August.
Centurion also launched today a new division to provide logistics to the oil and gas industry, Centurion Upstream Solutions.
It will partner with PSM, that preserves critical spares so they are ready for use when needed, and Jetwave Marine Services to ship material offshore.
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