Stonefield saviour?
Page 6
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THE IMMEDIATE future fa Stonefield Vehicles look rosier, following Tozer, Keni slay and Millbourn's decisioi to take out a £120,000 optic)i on a 75 per cent share of till company.
TKM has until the end of ne) month to decide whether to tak up the option and the remainin 25 per cent of the company wi remain in the hands Of the Scol tish Development Agency unt • June 1985.
A TKM spokesman told CA, that the next few weeks will bi spent evaluating worldwide de mand for the all-wheel-drivi Stonefield range which wor Ministry of Defence approva late last year. Every effort wii also be made to expanc Stonefield's order book.
Neither TKM nor the SDA wil divulge details of how mudTKM's 75 per cent share ir worth, but the SDA did say tha it has invested around £4m ir Stonefield since its formatior four years ago'.
It says it does not expect tc recoup the full £4m as this war intended as development capita to get the automatically-gearec vehicles into production.
TKM itself has international trading, finance and investment interests and last year increased its pre-tax profit from £7.6m to El 6m.