Friday, July 20, 2007
LDV cooking with Gaz as profitability returns
LESS THAN a year after buyer van-maker, LDV, Russian firm Gaz, has returned the Birmingham company to profit.
The company said it was in surplus but did not divulge any financial evidence.
The return to the black was celebrated by a parade of 30 Maxus vans, driven by dealers, through Birmingham. The celebration was attended by Birmingham's deputy lord mayor, Councillor Mike Sharpe.
Alongside the Birmingham event, chief executive, Steve Young, held an employee conference for the firm's 930 employees, which includes 140 new people recruited by LDV in the last 12 months.
"Our celebrations round off an immensely successful 12 months," said Steve Young. "GAZ has proved a fantastic new owner for the business, backing us financially with a £48 million refinancing package last year, and the resources to invest in new products and enter new markets.
"As an industrial owner, not just a financial one, they bring great credibility to our growth plans when we speak with customers, dealers and suppliers."
DATED: 20.07.07
FEED: AW
The company said it was in surplus but did not divulge any financial evidence.
The return to the black was celebrated by a parade of 30 Maxus vans, driven by dealers, through Birmingham. The celebration was attended by Birmingham's deputy lord mayor, Councillor Mike Sharpe.
Alongside the Birmingham event, chief executive, Steve Young, held an employee conference for the firm's 930 employees, which includes 140 new people recruited by LDV in the last 12 months.
"Our celebrations round off an immensely successful 12 months," said Steve Young. "GAZ has proved a fantastic new owner for the business, backing us financially with a £48 million refinancing package last year, and the resources to invest in new products and enter new markets.
"As an industrial owner, not just a financial one, they bring great credibility to our growth plans when we speak with customers, dealers and suppliers."
DATED: 20.07.07
FEED: AW
