Fleet News

LDV close to securing funding

LDV has revealed it has been in discussions to secure a vital financing package to fund the restart of production.

The UK van maker says it is in talks with potential investors in respect of a re-financing package aimed at funding the completion of its new Maxus model programme, particularly the minibus and chassis cab range.

In a statement today, the company said: 'We are now finalising these discussions and plan to announce further details later this week.

'We can also confirm that LDV did stop production seven working days ago in order to rebalance vehicle stocks, complete sold customers orders through our special vehicle operations department, refurbish vehicles through the LDV Approved Used Vanguard programme and upgrade skills training through the Automotive Academy. These programmes are almost complete and we aim to resume the progressive start up of production during the next few days.'

LDV employs 1,200 at its Washwood Heath factory in Birmingham.

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