Buyouts soon for vans and trucks
22nd April 1993, Page 6
22nd April 1993
Page 6
Page 6, 22nd April 1993
— Buyouts soon for vans and trucks
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Keywords :
Leyland Daf, Paccar, British Leyland, Daf Trucks, Management Buyout, Daf Nv, Freight Rover, Business / Finance
• Leyland Dal's receiver plans to reach agreement in principle for the truck business within a fortnight.
However, negotiations are not restricted to the management buyout team led by managing director John Gilchrist, says receiver Arthur Andersen.
Automotive Products' subsidiary AP Lockheed has resumed supplies to the Leyland plant with brake components. And British Telecom has placed an £8.2m order for 206 Leyland Daf trucks. Leyland will build 142; the rest will be produced at Eindhoven.
A management team at the Birmingham van plant is expected to clinch a buyout deal this week.
To support the deal workers have agreed to an 8% pay cut and a longer working week.
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John Gilchrist