Seddon's £3m
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SEDDON ATKINSON'S date with destiny has been staved off by a £3m lifeline from International Harvester, its ailing United States parent company.
Oldham-based Seddon, who will launch another vehicle in its range in April, is still being offered for sale by IH, but an announcement from IH's American headquarters last week said that Om new capital was being made available as a cushion to Seddon, pending an agreement to sell the company.
It is still far from clear when a deal can be struck, and with which company, although current speculation still surrounds possible deals with Enasa, the Spanish maker of Pegaso and Sava commercials in which IH had a 35 per cent share until recently, and with General Motors.
Iveco has also had discussions with Seddon, but it appears clear that it is no longer a contender to take over.