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DAF sits tight
Page 21
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DAF president Piet Van Doorne ended speculation on the future of his company last week when he told a press conference that DAF would remain independent, despite a 33 per cent holding in the company owned by International Harvester.
He said that the original purpose of the IH holding in DAF had been a financial arrangement to enable DAF to finance its expansion programmes — and that was the way the arrangement would stay.
And DAF will be able to finance its future expansion plans without any further outside assistance, said Mr Van Doorne. Planned increases in production did not call for further major investments.
He said that the original purpose of the IH holding in DAF had been one of co-operation in technical fields between the two companies and to allow the possibility of selling DAF products in, America and other markets, but a drop in the exchange rate no longer made this attractive.