Cash for Stonefield
21st July 1978, Page 7
21st July 1978
Page 7
Page 7, 21st July 1978
— Cash for Stonefield
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Keywords :
British Leyland, National Register Of Historic Places In Wisconsin, Stonefield, Wisconsin Historical Society, British Brands, Rover Company, Business / Finance
STONEFIELD Vehicles has been granted an extra Om by the Scottish Development Agency.
This brings the SDA's stake in the company to Om, equivalent to 75 per cent of the equity. The balance is held by the McKelvie family trust which was inherited from the late Jim McKelvie who was the originator of the project.
This extra support was recommended to the SDA by John Barber, a former British Leyland managing director, who had been imported to study the market possibilities.
Bernard Jackman, Rover's former managing director, has been appointed chairman of Stonefield. Production has been estimated to peak at 50 vehicles per week, using 400 employees.