I.Dif jobs safe in Daewoo crisis
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• The jobs of thousands of LDV workers in Birmingham are safe, says the company, despite the financial crisis affecting its South Korean partner Daewoo.
Reports in the Birmingham Post last week said production of jointly developed vans, and thousands of associated jobs, are in jeopardy because of Daewoo's massive debts of £32bn. But LDV spokesman Ian Strachan says: "We donl see it in those terms at all. The project is going extremely well— most of the resources have already been invested. Clearly Daewoo has some financial issues to solve. We have known for some time that there have been liquidity and debt issues but they have always said that they have a plan to see them through. "We are confident that we are going to continue to work together to produce some world beating vans," he adds.
Daewoo chairman Kim Woo Choong has offered more than £600m of his personal fortune to extend loans while the International Monetary Fund put up a credit package worth £3bn in a bid to keep the company afloat.