Plugging DAF's dyke
Page 6
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L LOAN for the ailing DAF ruck-building concern was his week promised by the hitch Government, writes our )utch correspondent.
It will be made through the hatch State Mining Company, Thich already has a 5 per cent aiding in the company. This is .kely to be increased, though Lot by acquiring shares from ither the Van Doome family a. International Harvester.
One of the directors of the ompany—and a member of he Van Doorne family—this mei( predicted that the corn'any would be making profits gain by 1977. This would be ossible by cutting costs, but a company spokesman also promised that there would be no redundancies in the next three months.
That is the time limit set for a searching inquiry into the company's affairs which is being mounted by senior management. It will not use information gathered in a study by IH earlier this year.
At present there are considerable stocks of unsold DAF medium-weight trucks. These have built up this summer while the top-of-the-range 2800 series has been out of production. The crankshafts needed for its engines are made by a British manufacturer which has had a lengthy strike.