American pie
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AN AMERICAN company is the front-running candidate to take over part of the Scottish Development Agency's share of Cumnock-based Stonefield Vehicles Ltd.
An SDA spokesman told CM that it had always intended to dispose of Stonefield when it became viable, and that the buyer will assume responsibility for extending marketing and production.
He added that the new partner would take on the entrepreneurial role begun by the company's founder, the late Jim McKelvie.
SDA at present has a 76 per cent (Om) share in Stonefield, which made a £1.3m pre-tax loss last year. But the company and SDA are confident of an upsurge of business following the Ministry of Defence's approval of the all-wheel-drive vehicle.
The SDA spokesman added that the American company involved in the present negotiations is connected with the automotive industry, but is "not a General Motors" business.