Is there hope for LDV

The van maker LDV announced last week that their assets would be sold to a Chinese engineering firm. The Birmingham based company went into administration last May, causing around 2,000 workers to loose their jobs, along with thousands of other workers from manufacturing companies contracted through LDV.

The Chinese engineering firm Eco Concept that will be taking control of LDV, have spent the past few weeks in negotiations with PricewaterhouseCoopers (PwC) before contracts where finally exchanged. Plans include much of the plant and equipment of LDV would be transported to China.

Peter Pilsner a transport correspondent said, "It seems likely now that most of the company's machinery will be shipped from Birmingham to China with echoes, perhaps, of what happened at MG Rover, where hopes of a Chinese rescue turned out to be a false dawn."

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October 21^st 2009

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