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LDV production to restart in July | LDV production to restart in July |
(about 6 hours later) | |
Van maker LDV will restart production by July once its takeover deal is finalised, Weststar has said. | Van maker LDV will restart production by July once its takeover deal is finalised, Weststar has said. |
Malaysia's Weststar earlier this month agreed to buy the Birmingham-based company after the UK government provided a £5m four-week bridging loan. | Malaysia's Weststar earlier this month agreed to buy the Birmingham-based company after the UK government provided a £5m four-week bridging loan. |
The firm said it intended to maintain production at the company's plant in Birmingham, but also to expand manufacturing in Malaysia. | The firm said it intended to maintain production at the company's plant in Birmingham, but also to expand manufacturing in Malaysia. |
LDV was poised to enter administration before the Weststar deal. | LDV was poised to enter administration before the Weststar deal. |
The van maker halted production in Birmingham in December after demand slumped amid the recession, and LDV's Russian owner Gaz had problems finding financing. | The van maker halted production in Birmingham in December after demand slumped amid the recession, and LDV's Russian owner Gaz had problems finding financing. |
LDV marketing director Guy Jones has said that not all of the company's 850 employees will keep their jobs. | LDV marketing director Guy Jones has said that not all of the company's 850 employees will keep their jobs. |
Weststar run Honda car dealerships across Malaysia and have been selling LDV's Maxus van in south east Asia and the Middle East since 2007. |
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