Fleet News

LDV back in profit

LDV is celebrating after officially returning to profitability, less than a year after being bought by Russian firm GAZ.

The Birmingham-based van maker celebrated the news with a special 30-Maxus van drive-away ceremony in Birmingham’s Centenary Square, attended by Birmingham’s deputy lord mayor, Councillor Mike Sharpe.

Chief executive Steve Young led the ceremony, which started at the firm’s Washwood Heath factory where LDV dealers all drove Maxus panel vans to the city centre venue.

“Our celebrations round off an immensely successful 12 months,” said Mr Young. “GAZ has proved a fantastic new owner for the business, backing us financially with a £48 million refinancing package last year, and the resources to invest in new products and enter new markets.”

The investment has seen a new £6 million production line installed and has led to more new product launches for LDV.

In April the company launched several new products including a new Maxus chassis cab range, new 12 and 17-seat Maxus minibuses, a bi-purpose range and two new engines.

Still to come this year will be a new Maxus ambulance, a refrigerated model and a fire support vehicle.

This will create around another 100 new jobs by the end of 2007.

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