Rus News Journal

The group GAS has bought British LDV Holdings

Group GAS has redeemed 100 % of actions of British motor-car manufacturer LDV Holdings at investment fund Sun Capital Partners. Specially created British company GAZ International Limited became proprietor LDV, informs on July, 31st AK &M.
Bought the British company GAZ International Limited - 100 % Open Society branch GAS . The Sum of transaction is not disclosed by the parties. As they say in the message of the Russian company, acquisition LDV - a part of the strategic program on transformation of group into a global international motor-car manufacturer. Besides management of existing business the company will be engaged in search and the analysis of possibilities for expansion of activity of group abroad. For production management to Great Britain and developments of export directions the group involves two British managers. The post of chairman of board of directors LDV Holdings will be occupied with Martin Lich who was earlier the president and the director for operative questions of Ford Europe and the general director of Maserati SpA. Steve Young, in the past working as head of an automobile direction in the international consulting company A becomes the General director. T. Kearney, and also occupying supervising posts in companies British Leyland and Ford Europe.

the Basic product LDV Holdings - easy commercial cars of family Maxus. The planned volume of release in 2006 - 10 thousand the cars, a planned turn - and #8356; 140 million At the enterprise works nearby 850 persons. GAS will develop manufacture Maxus in Birmingham, expanding a grocery ruler, increasing sales volume and leaving on new commodity markets. Further it is supposed to organise also model manufacture at Gorki automobile factory in Nizhni Novgorod.