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MCW: Plaxtons poised to pouncel
Page 6
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• Metro-Cammell Weymann, the bus building arm of Laird Group is "neither confirming nor denying" rumours that Plaxtons has teamed up with Fiat to mount a rescue bid.
MCW's 500-strong workforce is currently working out its notice period after Laird's decision to dispose of its transport subsidiary.
However, there are enough pointers to give credence to
the rumour. Plaxtons started a joint venture with Fiat in October last year, when it bought a stake in French coachbuilder Carrosserie Lorraine from Fiat's Iveco subsidiary. Plaxtons has just announced pretax profits of ,£4.75 million for the 15 months to endDecember 1988.
There has been a lot of interest in MCW's train and taximaking businesses but this is the first sign of real interest in the bus manufacturer.
El At least three major bus operators are queuing up to bid for council-owned bus operator Merthyr Tydfil Transport. Two of the bidders are believed to be local operators.
The sale, which should be completed within three months, follows a preChristmas price war which left Merthyr trading at a loss.