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New pallet network could go European
[ July 18, 2016 // Chris ]Former Fortec directors Neil Hodgson and Marcus Fischer are to launch a new UK pallet network, Principle – the first for over ten years – but the initial focus will be on the domestic market, although international services could come at a later stage.
They have secured a seven-figure investment from private equity and corporate bank lending, and the network will be operational in the next few months, officially trading from the new year. Initially employing over 60 people, the central hub will operate from a purpose-built site in the Midlands.
The focus will initially be on the UK and Ireland, but there are plans to extend to a European network within the new venture five year growth plan.
Neil Hodgson (right), who is chief executive of Principle Pallet Network said: “Despite this being a mature market there is a proven opportunity for a new pallet network to enter the market with a firm focus on identified vertical markets which demand high levels of service, security and information”.
He said Principle would be “an attractive proposition for transport businesses looking to enhance their current service offering and augment their future potential.”
Chief operating officer, Marcus Fischer (left) added: “Whilst based on the traditional pallet network model our intention is to develop Principle into a unique network within the sector. We are looking to attract like-minded partners from the transport sector, who share our passion for service excellence and vision for profitable growth.”