Furness to sell unit

ROTTERDAM-based Furness Pakhoed Transport Group, a unit of Royal Pakhoed, says it will probably sell its Rutges road transport subsidiary to Rutges' management.

The buy-out talks involve the management of Rotterdam-based Rutges, which is wholly owned by Furness.

Rutges handles international road transport of air freight and distributes fuel and steel products.

It operates in the Netherlands, Belgium, Germany, Britain, France and Switzerland and employs about 400 people.

Pakhoed said the discussions had reached a stage whereby an agreement was likely to be signed.

Under Dutch law, trade companies that expected to reach agreements were required to issue a statement saying this would probably happen.