F&I Management & Training

Details of a plan to save the LDV Vans factory in Birmingham from closure are to be unveiled to workers. Up to 850 jobs have been under threat after the production line was halted before Christmas because of a downturn in global van sales. A proposal for a management buyout is to be detailed at the meeting, which will be attended by union leaders who have been involved in talks. Erik Eberhardson, buyout leader, said it is vital to the firm's survival. Earlier this month, the government turned down a bid by the firm to secure up to £30m in a bridging loan, prompting Russian parent firm, Gaz, to warn hundreds of jobs were at risk. Mr Eberhardson said there were "important steps" to take in the next few days to ensure the buyout goes through. 'Best solution' "The next key action is to consult the employees about their support for it," he said. The management team has been in discussion with the trade unions and expect these to conclude [later]." Mr Eberhardson said those discussions were "progressing", but there would be no "major developments" unveiled at the meeting. "I remain confident that the buyout can offer the best solution for the British economy, LDV, its employees and suppliers and the management team and I are doing everything in our power to deliver the plan," he said. A spokesman for the Unite union, whose officials will attend the meeting, said the firm was in a "serious" situation. "We are still looking for the government to provide short-term funding while a longer term solution is found," he said.

DATED: 03.03.09

FEED: AW