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Buyout boost for Leyland Daf vans

25th march 1993, Page 7
25th march 1993
Page 7
Page 7, 25th march 1993 — Buyout boost for Leyland Daf vans
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Which of the following most accurately describes the problem?

• Doubts were cast over the possibility of a management buy-out at the Leyland Daf truck plant last week, but the van buyout plan was given a boost when the receiver said it was the "most likely solution" for a slimmed down Birmingham plant.

Joint administrative receiver Murdoch McKillop said in a BBC interview that the van MBO is an "obvious solution". It received financial backing from venture capital group 3i last week and could be completed by the end of April.

But McKillop added: "It is not necessarily a solution for trucks—I would emphasise that—and it's not necessarily the solution in other parts of the Leyland Daf business."

More job cuts are expected at the van and truck plants.

Leyland Daf in crisis