Wednesday, August 19, 2009
LDV in 'exclusive' sale talks
LDV and Birmingham Pressing Limited, in which LDV has a stake, are talking to one party exclusively hoping to sell the business, said the administrators.
Pricewaterhouse Coopers said the party has indicated it was studying options for "recommencing some production, at the Washwood Heath site".
LDV went into administration in June with the loss of more than 800 jobs at its Washwood Heath plant.
Administrators declined to give any other details of the talks.
"It would not be appropriate to comment further on the identity of the proposed purchaser at this time, given the confidentiality agreements in place," said the administrators.
In June, the administrators said at least six organisations were considering whether to invest in the company.
The plant has been at a near-standstill since before the end of 2008 during the search for a new owner.
The company has been owned by Russia's Gaz Group since 2006.
DATED: 19.08.09
FEED: AW
