 LDV was created from a management buyout in 1993 |
The British van company LDV is in talks about being sold off to Russian automotive group Gaz. LDV is one of a few remaining UK-owned motor manufacturers and employs about 800 workers at its Birmingham plant.
The van-maker, formerly Leyland DAF, was acquired by a group of shareholders in December 2005.
The talks between LDV and Gaz, the second biggest auto firm in Russia, are at a preliminary stage, the two parties said in a joint statement.
The statement said there was no certainty that discussions would lead to an agreement.
Gaz is controlled by Moscow-based oligarch, Oleg Deripaska.
LDV manufactures panel vans and minibuses. It was set up in 1993 through a management buyout from truck maker Leyland DAF, which is now defunct.
It produces more than 13,000 vehicles a year at its Washwood Heath factory in Birmingham, close to the M6 motorway.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
