Mathiesons Bakeries has sold a controlling stake in its company to private equity firm Symphony Investment Fund.The Scottish craft bakery got in touch with Symphony to provide some additional fun- ding for the business, which had been struggling during the recession.The deal was confirmed on 3 July and George Stevenson stepped down as managing director on the same day, said Catriona Stevenson, director of sales and marketing at Mathiesons. However, as part of the deal, Mathiesons will be able to buy back the controlling interest in a few years’ time.David Orr previously of United Central Bakeries has replaced George Stevenson as MD, who has assumed the role of non-executive chairman.In an interview with The Falkirk Herald, the former MD, who spent over 30 years in his role, said giving up control of the business was necessary to safe-guard its long-term future.The restructure has resulted in 10 job losses, from its 450-strong workforce.Catriona Stevenson said the company is now running as usual and there are no plans to close any of its shops or restaurants.Mathiesons invested over £4m in a move to a new 47,000sq ft bakery on the outskirts of Falkirk in 2006. The company invested £600,00 in new equipment as part of the move.
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The government has refused to say whether free travel will be available after 2016 on transport services that may be privatised, according to Donegal Deputy Charlie McConalogue.Charlie McConalogue TD In response to a Parliamentary Question from Fianna Fáil, the Minister for Social Protection Joan Burton refused to state whether the free travel entitlement will be retained in full after the privatisation of certain services.“We have highlighted to Minister Burton the need to ensure that all transport services that currently offer free travel continue to do so when they are tendered out to private contractors by the National Transport Authority,” explained Deputy McConalogue. In response to questions from Fianna Fáil the Minister said “I understand that the National Transport Authority earlier this month launched a public consultation process on its plans to enter into another direct award contract with Dublin and Bus Éireann from December 2014, to amend those contracts in 2016 to reduce the services within those contracts by approximately 10% and, to provide the removed services through separate contracts following an open tender process.“An interdepartmental group, chaired by my Department and including the Department of Transport and the NTA, is currently examining the free travel scheme. This issue is one of the issues which will be considered as part of that review”Deputy McConalogue continued, “When you remove the official jargon from this reply, it is clear that the free travel scheme is under review and that its future is in doubt.“It’s also clear that the Minister is not willing to give any assurance whatsoever in relation to the continuation of free travel services on the ‘removed services’ – in other words, those services that will be privatised. “I am now calling on the Minister to clarify once and for all what her policy is in relation to free travel. She needs to clearly state whether or not it is her intention to continue with the universal free travel that has been available on all public transport since it was introduced by Fianna Fáil back in the ‘60s.” FREE TRAVEL AT RISK CLAIMS McCONALOGUE was last modified: October 14th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:deputy charlie mcconaloguefree travel