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1,200 LDV jobs saved

LDV has agreed a rescue deal to save the troubled firm, saving 1,200 jobs.

Under the terms of the deal, LDV was put into administration and immediately bought by a private equity group.

The new owners, led by the investment firm Sun European Partners, will ensure production at the group's Birmingham plant. However, pension rights are still unclear.

"Management, Government and unions have worked tirelessly to help the company during obviously difficult times," said Transport & General Workers’ Union chief Tony Woodley.

"LDV is a good modern plant managed by good people with a good product and a good workforce. "They deserve the future that has hopefully been secured by this arrangement," he added.

(Source: bbc.co.uk)

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