Palletline has announced one of its most ambitious investment programmes to date, which will see the pallet network spending around £6 million on its network, as well as new properties and innovative technologies.
The announcement follows the company’s successful performance in 2021 that saw a 19.4% increase in turnover and a new milestone of five million pallets per year. Now, to ensure it will be capable of handling the economic headwinds predicted by analysts, Palletline has decided to focus on its future sustainability.
Palletline’s Group Managing Director Graham Leitch is confident about the future and sees these latest investment plans as marking a new era for the business. “Palletline was the first network to be established in the UK and we are incredibly proud that we continue to boast a market leading model which has stood us in good stead over the past 30 years. Palletline continues to be the only network owned and controlled by its members and, as such, are seen as the network of choice for regional logistics companies who want to enjoy this and other benefits.”
As part of its investment programme, Palletline will expand the Coventry and Birmingham sites, as well as begin a five-year contract with Linde, which will see a new fleet of forklifts being introduced across the business, some of which will be electric. The company also intends to develop a new IT platform and deliver a seven-figure project implementing CCTV technology on its forklifts, to increase visibility and accountability.
“Over the past twelve months we have enjoyed unprecedented success however we are not complacent and now have our sights set on further developing the business to create an even more robust offering and ensure sustainability for the future. Our logistics business too has continued to perform well and now has a total of nine businesses under its umbrella, which collectively have grown by 43% to achieve a £50 million turnover between them employing 450 people across the UK,” adds Graham.
“We have an exciting journey ahead and will ensure we continue to exercise strong financial controls for the benefit of our members going forward,” he concludes.