BRADFORD (dpa-AFX) - Shares of Wincanton plc (WIN.L) were gaining around 3 percent in the early morning trading in London after the third-party logistics company announced Thursday that it has received an additional contract from Wm Morrison Supermarkets PLC (MRW.L).
Morrisons has awarded Wincanton the management of their transport and VMU operations at Willow Green, Bridgwater, which will commence later this year.
The substantial contract extension will involve the TUPE transfer of over 250 colleagues from the existing provider to Wincanton. In addition, Morrisons and Wincanton will partner to improve logistics activities and service to Morrisons stores.
In 2019, Wincanton received contract from Morrisons for the management of three transport and five VMU operations through its fleet management business, Pullman Fleet Services.
This initial contract involved the TUPE transfer of over 550 colleagues from Morrisons to Wincanton.
James Wroath, CEO of Wincanton, said, 'In these challenging circumstances affecting businesses across the UK, we are delighted to build upon our reputation for excellent implementation and quickly extend the scope of Wincanton's much valued partnership with Morrisons.'
In London, Wincanton shares were trading at 200 pence, up 3.36 percent.
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