Freightliner PL in profit…


…BTWT issues apology.

Freightliner PL leaflet. Photo Grafixpol.

On Wednesday 28 March 2012 we published an article ‘Freightliner PL to be sold‘ in which we stated that the company ‘has yet to make a profit’ and may have given the impression that the company’s owners might be forced to sell at a ‘garage sale price’. We now accept that Freightliner PL is profitable, that there is no possibility of a quick sale of the company at a knocked down price and that although a sale at some stage is likely – its principal owners Arcapita Inc are in the business of buying and selling companies – it will not take place according to the distressed sale timetable suggested by the article.

We make an unreserved apology to Freightliner PL.

The article was based on information in the public domain about the financial status of Freightliner PL’s principle owner Arcapita Inc and information about Freightliner PL’s financial results supplied by one of our trusted sources. What we had not factored in was that – in an effort to divert business away from Freightliner – one of Freightliner PL’s principle competitors was spreading misleading information about Freightliner PL’s profitability. We should have checked this information; we did not, and we accept full responsibility for the mistake.

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