Friday, May 01, 2009

LDV files for administration

Birmingham based van maker LDV applied for administration. 800 jobs at its Birmingham factory and another 1,200 in various dealerships are at stake.

However, the interesting news is that Malaysian investor Westar is said to be in advanced talks to take control of the company. If that happens, it will become the second British automobile company to be taken over by the Malaysians. The first was Lotus which was taken over by Proton in 1996.

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