Ford/Iveco dea comes closer
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BRITAIN's other major ti merger, the acquisition Ford's truck business by I owned Iveco, is mov closer.
Within the past week, it become clear that a new o pany is being set up to n age their truck operations that details could be settle( the end of next month.
The new company, w: will run the heavy truck ; vities (over 3.5 tonnes) both companies, is to owned 48 per cent each Ford and Iveco, with a I Jon merchant bank 'soh the remaining four per cer, It will add Ford's Lan truck plant in Bucki hamshire, where the f year-old Cargo range is b to the existing Iveco plant Italy and West Germany is expected to keep the C, in production for the res its viable life.
Ford of Europe's chairn Bob Lutz, says of Lang] future: "Joint ventures are signed to protect jobs, no cause redundancies."
Lutz is leaving his pre job to head Ford's N American truck operati from next month.