LDV buys rights to Daewoo LD100 van for $4 million

British LDV Ltd has become the sole owner of manufacturing rights for the LD100 delivery van project, which was to replace the production of the Lublin van in Daewoo Motor Poland (DMP) factory in Lublin. The company acquired the rights for $4 million. DMP plans to spend $3 million of this on paying employees their overdue wages, as well as covering part of its liabilities with the Employees Compensation Guarantee Fund (FGŚP). The British investor has declared that the production of the vehicle, which is planned to commence in two years, will be built in the Lublin plant. However, the completion of the transaction will only be possible in two to three years time, when the production of the Lublin III van comes to an end. Investors, including the Indian Hinduja Group and an unnamed Russian company have expressed an interest to buy the right to produce the Lublin III. (Rzeczpospolita, April 26-27, p. B2) A.K.