Author: Anonymous
Source: free-articles
July 1, 2004 -- THE TRAVEL COMPANY, the UK's largest independent travel management company, has announced the purchase of Corporate Travel International. CTI is recognised as the north of England's leading business travel management company; it is headquartered at Hull, Humberside and has offices in York, Bradford, Leeds, Manchester and Liverpool. The company also has a leisure division based near Hull.
CTI was a subsidiary firm of Cyberes plc, which entered into administration on 23 June 2004.
Mike Walley managing director of The Travel Company said: "This acquisition gives us a strong presence right across the North of England, and further strengthens our position as the UK's leading independent travel management company."
Regarding existing clients he said: "After these few days of uncertainty for CTi clients we will provide a seamless transition into the Travel Company and together will enhance the services provided."
Steve Ellis, joint administrator at PricewaterhouseCoopers said of the sale, which was completed on Friday 25 June:
"We are delighted to conclude a sale of the business so swiftly, in circumstances where clients had an on-going need for service and hence a limited period in which to remain loyal to the business. It's a testament to the efforts of all concerned, particularly company staff in difficult circumstances that this has been achieved so quickly. We're especially pleased that the sale will preserve the employment of not only the core workforce we retained to keep the business going over the last few days, but may also provide an opportunity for most of the staff made redundant to return"
The Travel Company is recognised as the UK's largest independent corporate travel management company, servicing in excess of ยฃ200 million in business travel contracts from five major business travel centres in London and the Thames Valley plus additionally, 35 electronically linked implants throughout the UK and Ireland. Its client base comprises many FTSE 100 companies, ten national newspapers, film and television companies, financial institutions and household name plcs. Its specialist, renowned entertainment division is the largest in the UK. The well-known event management company 'Talking Point' is part of The Travel Company Group. The Group has more than 400 employees.
The Travel Company has global presence through the SYNERGI Global Travel Management network. SYNERGI comprises more than 53 travel management companies with annual turnover of more than US$ 10 billion and more than 3,000 offices and 12,000 employees worldwide.
For further media information contact Jane Richards at Compass Communications on 01753 549251 jrichards@compasspr.com
Websites: www.thetravel.co.uk / www.synergitravel.com