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"FIGHT GOES ON" FOR LDV

08-06-2009

Birmingham Hodge Hill MP and newly elevated Cabinet minister Liam Byrne insists “the fight goes on” for van maker LDV – even though the company is filing for administration today. 850 jobs are at stake.

Posting on his blog last night Byrne said, “Over the weekend, I and my team have been working with LDV management team, the potential administrator and other contacts in the industry.

“We’ve not yet sealed a last minute bid; there may (stress, may) be more news first thing Monday morning.

“Failing this, my fight will be for a deal to support a buy-out from administration that maximises jobs in Washwood Heath.

“I’ve told potential administrators tonight I’ll move heaven and earth to help get help for a rescuer, as long as they’re real about the long term and have equity to invest. I know we’re down – but I’m determined we’re by no means out. The fight goes on.”

LDV management have warned that given the threat to Ford at Southampton and Vauxhall in Luton, the end is
nigh for UK van production.

They say the cost of saving the company is cheap compared to the £53million annual cost to the Treasury of redundancy, when benefits and lost taxes are factored in.

Guy Jones, LDV Marketing Director said, “There has been over £600m invested in the past few years in lightweight, fuel-efficient products with a low cost of ownership and the Electric MAXUS is now ready for production.

“It would be a tragedy if the UK threw away the opportunity of the return on this investment”.

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