First Group sells off rail freight

The transport company First Group has sold its rail freight business for £31m to a subsidiary of Eurotunnel.

Known as First GBRf, the freight business employs 300 people and transports coal, chemicals and other materials around the country.

First acquired the business in 2003 and sales last year were nearly £60m.

Chief executive of First Group, Sir Moir Lochhead, said: "The disposal of GBRf is consistent with our strategy of focusing on our core businesses."