Following the government's rejection of a £30m bailout (MT 26 February), LDV has returned to the drawing board to devise an improved plan in a bid to secure state funding.
As MT went to press, LDV was in discussions with trade unions about the latest details of the management buyout, led by outgoing Gaz chairman Erik Eberhardson.
Guy Jones, marketing director at LDV, says: "The process of securing state funds for LDV is ongoing and we aim to resolve
the situation as quickly as possible. Employees will be the first to hear about the details of the revised plan and, following this, we will make our submission to the government."
LDV confirmed that parent company Gaz has received speculative offers from foreign companies, fuelling speculation that production could move away from Birmingham.
However, Eberhardson says: "We are convinced that LDV has a viable future in Birmingham, where we have a world-class plant. The focus is very much to keep the Maxus and its electric vehicle project in Birmingham."
Reed Business Information Limited.©2009
