LDV - Company of the year - 22nd June 2009

A resurgent LDV, the Birmingham minibus and van manufacturer, has been named UK Company of the Year by the Institute of Transport Management.

LDV, honoured for an "outstanding" business turnaround, fought off competition from 16 companies, including runners up Virgin Trains and British Midland Airlines.

The accolade comes less than two years after LDV went into administration when higher production costs incurred by the launch of its award-winning Maxus van caused a cash crunch.

After a spell in the ownership of a US private equity firm, the company was bought by Russian commercial vehicle specialist Gaz, which has invested heavily in new models and new production facilities. LDV was able to announce recently that it had returned to profit, at the operating level, after a year under Gaz''s ownership.

A spokesman said "This announcement comes as a result of the Institute''s most extensive researching of the entire transport industry. "LDV, a company with very strong British roots, has maintained its identity throughout good times and bad, and today sits at the top of what is an ultra-competitive light commercial vehicle market.

"LDV''s chief executive Steve Young said the award would continue to strengthen the company''s standing in the commercial vehicle industry. "We are very proud to receive this prestigious award after what has been a remarkable 12 months," he said. "GAZ Group has provided us with the resource for investment in new products allowing us to double our manufacturing line rates, increase our UK sales volumes by 50 per cent and enter into new markets."The investment has seen a new £6 million production line installed, and has led to more new product launches, including the Maxus chassis cab range, a 12 and 17-seat minibus, and two new engines.

The new product ranges and the increased levels of sales in the UK and export markets will see about 100 new jobs created by the end of 2007 adding to the 140 already generated since the GAZ takeover. The Institute of Transport Management works with Government and academic bodies to monitor, improve standards and professionalism in the transport industry.

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