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Canadians buy into ERF
Page 30
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• Canadian truck manufacturer Western Star has bought 4.2".. of ERF's ordinary shares.
ERE says that it was informed of the move by its brokers, but news agency Reuters claims: "ERF and Western Star have had discussions to assess the potential of joint marketing opportunities for their complementary vehicle ranges, particularly in export markets."
ERF's share price was boosted by the purchase: after the Foden family the second largest package of shares (around 25°0 is held by Scottish Amicable and NI&G. Western Star is a relatively small manufacturer based in Kelowna, British Columbia—it is not expected to increase its shareholding in ERF in the immediate future.
ERF and Western Star could both benefit from a deal on hardware: Western Star builds bonneted, US-style trucks while ERF concentrates on cabover models.
I_ 1 Western Star recently launched a new range called the Constellation Series (see news analysis CM 22-28 February).