Hestair takeover?
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LE INTERNATIONAL the making parent company of Duple Coachbuilders and e (Metsec), is the subject of ((rover bid by Hestair, the it company of Hestair Den*ports NOEL MILLIER.
e bid was made after Hesmught shares representing per cent of Duple's issued a capital from Grovewood, a pany owned by Eagle Star. a 7.6 per cent stake pursed in early May, this ght Hestair's share of Duple 1.9 per cent.
le Hestair all-equity bid as the Duple Group, of ch the coachbuilding inits account for 80 per cent, ;out £4.3m.
:stair chairman David Harves told CM that he sees the ntial acquisition of Duple as icularly important for Hestair nis, although he is anxious eassure existing Duple chbuilders customers that le will remain a separately iaged business and its policy ards other chassis manufacrs will remain unchanged.
a sees the relationship bean Dennis and Duple (Met es particularly significant in ort fields as it will give the ipanies the chance to supply iplete vehicles.
ie Hestair group includes
nis and Phoenix as well as Ipanies not associated with
motor industry such as Kidaft toys. The group has been ling successfully despite the 3ssion and its largest constitt, Dennis, has full order iks and is working to capa
uple International has not yet cted to the offer and is unstood to be cautious as proIs from chassis manufactur other than Dennis account 90 per cent of its output.
kt present Duple has bodied rear-engined Dennis Falcon V iches with its now replaced ldliner model for National Ex It is not offering or willing to body the new Dennis Dorchester premium coach chassis with its Laser or Caribbean bodies although it seems likely that this policy will be reconsidered.
Duple is building an integral Caribbean with Neoplan underframe and is also to body the Dutch-built Bova underframe for the Moseley Group with a new body to be marketed as the Bova Calypso. This arrangement is expected to continue.
Initial reaction from one leading importer was to welcome the Hestair bid, as it suggested that Duple's selective bodybuilding policy might change.