More cash for New Ford
19th November 1992, Page 7
19th November 1992
Page 7
Page 7, 19th November 1992
— More cash for New Ford
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/ An extra 2,58m share capital has been injected into recessionhit Iveco Ford Truck in a bid to help cover the company's losses. The additional funding brings the cash pumped into the Langley-based truck to 295m over the last year.
Iveco Ford Truck lost over £38m last year and is expected to show a further loss this year. It last made a profit in 1989.
The company also plans to halt production for more than five weeks over Christmas. SMMT figures show that yearon-year, CV production fell 3% last month to 19,486. But overall January-October production was up 24%.
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