DAF take-over 'out of question'
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THERE is no question of another vehicle manufacturer becoming involved in the affairs of DAF Trucks By, the ailing Dutch manufacturer (CM last week).
This is made plain in a statement prepared in Holland and circulated in Britain this week by DAF Trucks GB. As well as the formation of a joint management-union working party to consider the situation the capital structure of the Dutch company is under review.
"Negotiations between the DAF holding company, International Harvester and the Netherlands Ministry of Economic Affairs have already confirmed that an increase in equity is guaranteed," says DAF. The Dutch State Mining Corporation is considering withdrawing from the holding company in order to participate directly in the truck cornp any.
"The result of these moves would produce a situation where no individual shareholder has a majority holding and most of the shares remain in Dutch hands.
"The British company will continue to trade normally," says the statement and it concludes by pointing out that no more parties other than the three already mentioned can now participate and that Volvo is in no way involved even though it purchased the "small and totally separate" car company this year.