Fleet News

Paragon appoints Koster as MD

PARAGON Vehicle Contracts has appointed Richard Koster as its new managing director, replacing Gordon Atkinson who is pursuing other business interests. Koster was formerly marketing director of Lex Vehicle Leasing, where he was also responsible for strategic planning and pricing.

Coventry-based Paragon has been seeking to increase its contract hire fleet, both organically and by acquisition. Last year it bought RCR Contract Hire, while just last month it doubled the size of its contract fleet with the acquisition of Airflow Streamlines' 2,000-vehicle contract hire fleet in a £4 million deal.

Meanwhile, the Paragon Group - the former mortgage specialist known as National Home Loans - has reported a 22% increase in half-yearly pre-tax profits. The company made £10 million (1996: £8.2 million) in the six months to March 31.

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