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Friday, 16 October 2009

Another British Manufacturer sold off

LDV was backed by Russian oligarch Oleg Deripaska but collapsed into administration earlier this year following sharp falls in commercial vehicle sales. Prior to this LDV has spent five months asking lenders and the government for loans and aid to keep it going, but ministers were sceptical that it had a commercial future. LDV had called on the government to keep it afloat with a £60m loan, after ministers had already offered a £5m facility to help fund a potential takeover.
Another betrayal of the workers of Birmingham offering such a meagre sum to one of the last British vehicle producers. As with Rover; no more skilled/semi skilled work for local people, no more technical placements for university students/graduates, no more local apprenticeships teaching engineering, and a loss to the supply chain in the local manufacturing sector. Alas!

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Anonymous 16 October 2009 at 20:04  

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