Birmingham van-maker LDV – previously one of the biggest exhibitors at the CV Show – is seeking urgent talks with the Government after extending the shutdown of its Washwood factory into February.
The Russian-owned company said it wanted to discuss with ministers “the prospect of immediate assistance” and that it was facing “unprecedented and immediate pressures”.
In line with the light commercial vehicle, LDV has been hit by a slump in sales in all of its markets and it said yesterday it was struggling to forecast when demand will pick up. The announcement came 24 hours after the company said it was delaying payment to some suppliers in an attempt to conserve cash.
“LDV and the excellent workforce here have done all the right things,” spokesman Guy Jones said. “We have invested heavily in the company, creating 200 new jobs, transforming the skills of our workforce and developing cleaner electric vehicles, but the scale of the downturn has devastated the entire sector.”
Its Russian owner Gaz has invested some £68.5 million in developing new vehicles and production facilities at Washwood Heath since 2006.