IH drops DAF shares
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sell its 37 per cent share
DAF vice-chairman Mr A. Van der Padt told CM last week that, in accordance with the terms of the articles of association, IH first offered its shares to the other two shareholders, the Van Doorne family and Dutch State Mines, but they initially declined the offer, and asked that the IH shares be transferred to a new shareholder, who would be "able to make a positive contribution to the further growth of DAF."
Should such a partner not be found within a few months, the articles of association will be resumed allowing shareholders to consider future policy.
The asking price for the IH in
terest has not been disclosed and it is difficult to envisage what kind of buyer could be found for what could never be a controlling share, writes Bill Brock.
Despite a drop of almost 25 per cent in production last year DAF remained in profit while introducing two new series: the 2500 and 3300. Seventy-five per cent of production goes for export and the UK ranks among its leading importers. DAF Trucks has a basic vehicle range comprising 53 types but only models above 16 ton gross are available in Britain.
Now that Volvo Great Britain is officially a British manufacturer, DAF ranks as number one importer in the UK in its segment of the market. In the 10 Western European countries where DAF has subsidiaries the company's market share increased from a 5.9 per cent to 6.7 per cent.