Iveco: 'best wa
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• The "bold new thinking" of Ford and Iveco's truck merger in Britain is the best way forward for both companies, Ford of Britain chairman Sam Toy said last week when the impending marriage was announced.
Speaking last Wednesday, Toy said: "Bold new thinking has to take the place of business as usual."
He said it is "obvious" that changes must take place and said the merger (CM, April 19) is a "first class solution to resolve the issue of how we stay in trucks in Britain".
According to Garuzzo, there are no plans to assemble any Iveco models at the Langley (Cargo) plant in Berkshire, but he added: "We are not ex eluding that from the future."
Iveco's parts and service centre at Winsford, Cheshire is being kept by the new company, but headquarters will be nearer Langley, possibly at Watford.
There are to be nine directors on the board of the company, five from Iveco, four from Ford.
Nevitt is to have responsibility for the manufacturing activities at Langley which are to be integrated, where possible, with those of Iveco in mainland Europe.
According to Toy, Ford has not made any profit from building trucks in Britain, whereas Garuzzo said last week that Iveco's 1985 results will show a profit of over £30 million.