Written statement made by Lord Davies of Abersoch (Labour) on Wednesday, 6 May 2009 in the House of Lords, on behalf of the Department for Business, Enterprise and Regulatory Reform.
Automotive Industry
My honourable friend the Economic and Business Minister (Ian Pearson) has today made the following Statement. The Government have today agreed to make available a one-off £5 million bridging loan facility to prevent LDV going into administration, and to facilitate the purchase of the company by Weststar of Malaysia. Weststar's proposed purchase of LDV offers the only credible chance of keeping this manufacturing plant in the UK, sustaining UK jobs and a platform for future model development.
Secondary information
- Type
- Written statement
- Reference
- 710 c51-2WS
- Session
- 2008-09
- Subjects
- Government assistance Motor vehicles Manufacturing industries Loans Sales LDV WestStar Group
- Contains statistics
- Yes
- Link
- View this Written statement on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2023-12-05 20:40:04 +0000
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- http://data.parliament.uk/pimsdata/hansard/PROCEEDING_77386
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