Even better news from Seddon
Page 18
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YOUR NEWS item headed SA's Good New {page 4, August 29) contained statements which do not represent the true state of company affairs over the last s months.
Closure of the company's Preston plant was a measure tc limit losses caused by reduced demand and was also designe to improve competitiveness by concentrating manufacturing a one modernplant. The cornparl did not face "serious financial difficulties" at the time.
Within Seddon Atkinson or International Harvester there was never "grave doubts whether Seddon would survive the recession". The actions of the last six months were specifically aimed at guaranteeing survival of a healthy state.
Finally, the reference that "International Harvester, Seddon's American parent, hat been able to pay off some of Seddon's debts" is totally without foundation. Financially Seddon Atkinson operates as a company in its own right. Additionally, the phrase "some of Seddon's debts" implies th a the company carries a sizeable debt burden which again has fl. basis in fact.
The recession has undoubtedly been tough, but ti company has reacted to it with increased efficiency which explains why the current order book is in such a healthy state F. G. WOODHEAD Financial director Seddon Atkinson Oldham, Lancs