£400,000 COMPANY TO BUILD SEDDONS
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IT is now officially confirmed that Seddon Diesel Vehicles, Ltd., which was incorporated on March 16, has been converted into a public company with a capital of £400,000, consisting of 100,000 6 per cent, cumulative preference shares of LI each and 6m. ordinary shares of Is. each. The company was formed to acquire the whole of the issued share capital of Seddon Motors, Ltd.
The directors are Mr. R. H. Seddon (chairman and joint managing directo'r), Mr. H. Seddon {joint managing director), Mr. H. Redmond (secretary), Mr. H. Daley (sales manager), and Col. Stanley Bell.
Seddon vehicles are marketed by an organization of 45 distributors and are said to be exported to 35 countries. At present. about 65 per cent. of the total production is being sent overseas.