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Nottinghamshire Heanor Haulage believes money raised from the sale of part of its land to supermarket Asda should help cushion the firm from the effects of the recession.

Peter Searson, chairman of Heanor Haulage, believes he was "in the right place at the right time" when he accepted an undisclosed offer for a section of the company's depot in Langley Mill, which will become a new 36,000ft² store.

Under the plans, which  Asda has submitted to Amber Valley Borough Council, Heanor Haulage will retain a presence on the site with a rebuilt main office and a new workshop.

Searson adds: "It's a very difficult market, but we've now got the reserves to invest in the future if we want to."