Transport boss steps down

The company says its chief executive, Ian Newman, is standing down for personal reasons.

Mr Newman joined Owens Group in August 1999 from a position as chief executive of the Union Shipping Group.

He has overseen significant restructuring of the company including rationalising and modernising of the company's Cooltainer fleet of refrigerated containers and continued expansion into Australia.

Mr Newman was also part of an Australian Advisory Board for the company which was set up in February last year to advise on business development and strategy formulation across the Tasman.

Owens Group's half-year result to the end of September 2000 was a profit of $1.44 million, down 22% on the previous year.

However the company, which should be benefiting from better times in the rural and export sectors, is forecasting a strong second half to the current financial year following good results in October and November.

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