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Production stalled at MerkerYshima
Page 7
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• The ambitious Italian-based MerkerYshima trailer project appears to have seriously stalled, with reports that production has ceased at the purposebuilt assembly plant at Pescara while attempts are made to recapitalise the operation.
According to Gerry Brown. boss of Boalloy (which was looking to receive around 1200, Merker chassis a year): "Nothing is happening. They haven't produced a chassis since November 2002—we got the last shipment in December."
Brown says that the MerkerYshima operation—set up at a cost of some £115m and described by some observers as the most automated trailer production site in the world— has been hit by cashflow and working capital shortages, caused by a delayed production start-up. However, a new consortium of shareholders under the name of Mercurius is reported to be looking to buy 74% of the company's stock and recapitalise the operation.
"They've been doing due diligence and I understand the hourly-paid workers have been told they're likely to be called back at the end of March," reports Brown.
"We've paid for everything we've got and have got everything we've paid for. We placed orders for a lot more chassis but can't get them,' says Brown. "But that's life," he adds.
Despite the setback, Brown remains optimistic about the future for the MerkerYshima operation. "It's too big to disappear. Somebody will take it over--it's the best trailer factory in the world!" he says.