JARVIS PLANS TO RUN FREIGHT TRAINS

JARVIS PLANS TO RUN FREIGHT TRAINS
31 Dec 2005

ENGINEERING and maintenance company Jarvis plans to start operating freight services in 2006.

Chief executive Alan Lovell said three 20-year-old 56 class locomotives, bought by the company at a cost of £60,000 each, would begin operating regular freight services in April. He said there were no plans to bid for passenger services — although he confirmed the company did want to extend its rail repair business abroad, probably in eastern Europe.

Mr Lovell's comments came as Jarvis reported an operating profit of £6.2m for the half-year to September - its first operating profit for two years.

In his interim report, Jarvis chairman Steven Norris remarked on the "extraordinary transformation" that had taken place in the fortunes of the company over the past two years but the numbers alone did not tell the full story. There had been "dramatic turnaround,” he said, adding: "Two years ago we were in grave danger of losing our position in track renewal; we now have a standing with Network Rail which is at least equal to that of any competitor."

He said new processes had delivered significant improvements in safety productivity and reductions in timescales in costs.


SOURCE RAILNEWS