ECT meaning in Transport & Travel ?

Answer:

What is Ealing Community Transport mean?

Ealing Community Transport (ECT) is a London social enterprise which provides community transport in the Ealing, Milton Keynes, and Dorset areas. In the past it has also operated in the national rail industry.In 2008 the Group experienced severe trading difficulties which led to a team of corporate finance and restructuring experts from TLT Solicitors advising the ECT Group on a three phase restructuring including the refinancing of the business, the share sale of the recycling division and the share sale of its rail business. The 24 companies in the Group turning over more than £70million and employing 1,100 were reduced to just eight, focused solely on transport.

The £15.5 million sale of £47 million turnover business 'ECT Recycling' to AIM listed maintenance services contractor May Gurney and the share sale of ECT's rail business to British American Railway Services, a subsidiary of American rail operator Iowa Pacific Holdings, LLC (for an undisclosed sum), meant that the ECT Group returned to its Community Transport roots.

reference

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