DAF NV (originally DAF BV) was a holding company formed in April 1987, when DAF Trucks and the Leyland Trucks division of the Rover Group merged. In February 1993, it was placed in receivership.
 | |
| Company type | Holding company |
|---|---|
| Industry | Automotive |
| Predecessor | DAF Trucks Leyland Trucks Division Freight Rover |
| Founded | 6 April 1987 |
| Founder | DAF Beheer Rover Group |
| Defunct | February 1993 |
| Successor | DAF Trucks LDV Group Leyland Trucks |
| Headquarters | , Netherlands |
| Products | Trucks Vans |
| Parent | DAF Beheer (60%) Rover Group (40%) |
| Subsidiaries | DAF Trucks Leyland DAF |
History
editDAF BV was formed on 6 April 1987, when the Dutch DAF Trucks company merged with the Leyland Trucks division of the British Rover Group, which included the van making business of Freight Rover. The new company was jointly owned by DAF Beheer (60%) and Rover Group (40%).[1][2][3]
In June 1989, DAF was floated on the Amsterdam and London Stock Exchanges, and renamed DAF NV with DAF Beheer and the Rover Group (now owned by British Aerospace) reducing their shareholdings to 22% and 16% respectively.[3][4][5][6] DAF NV's products were sold under the Leyland DAF banner in the United Kingdom, and as DAF elsewhere.
It manufactured trucks at its plants in Eindhoven and Leyland, and vans at its plant in Birmingham in England. In February 1993, DAF NV was placed in receivership, after a downturn in sales and an inability to refinance, with the business sold in three management buyouts:
- DAF Trucks, as a truck manufacturer based in Eindhoven, with the Flemish and Netherlands governments holding the majority of the shares.[7][8][9]
- LDV Group, as a van manufacturer based in Birmingham, England backed by 3i, which continued trading until 2009.[10]
- Leyland Trucks, as a truck manufacturer based in Leyland, England[11][12]
DAF Trucks and Leyland Trucks ended up both being acquired by Paccar, DAF Trucks in 1996[13][14] and Leyland Trucks in 1998 respectively.[15][16] while LDV shut down and its intellectual property was acquired by SAIC Motor.[17][18]
References
edit- ^ Record year for Daf Trucks Commercial Motor 18 April 1987
- ^ Daf BV ahead at half time Commercial Motor 1 September 1988
- ^ a b Parker, David (2012). The Official History of Privatisation. Abingdon-on-Thames: Routledge. ISBN 9780415692212.
- ^ Daf shares offer Commercial Motor 20 April 1989
- ^ Sharing the Daf cake Commercial Motor 4 May 1989
- ^ DAF 6.75% PERP Guy Butler Limited
- ^ Component and axle plants merge Commercial Motor 2 December 1993
- ^ Commission Takes Final Decision on State Aid to the Truck Producer DAF European Commission
- ^ Paccar Agrees to Purchase of DAF for $542.8 Million The Wall Street Journal 7 October 1996
- ^ Van firm in £1.5bn bid BBC News 2 May 2002
- ^ Leyland Trucks is back Commercial Motor 17 June 1993
- ^ Hard road back from despair The Independent 2 January 1994
- ^ Paccar set to take over Daf Trucks. Commercial Motor, 10 October 1996
- ^ Paccar aims to cut queue. Commercial Motor, 7 May 1998
- ^ Paccar acquires Leyland Trucks. Automotive News Europe, 11 May 1998
- ^ 20 Years with Paccar. Leyland Trucks, 27 June 2018.
- ^ "SAIC to Resurrect LDV Maxus". ChinaAutoWeb.com. Archived from [chinaautoweb.com/2010/08/saic-to-resurrect-ldv-maxus the original] on 13 September 2019.
{{cite news}}: Check|url=value (help) - ^ SAIC launched new brand Maxus for vans China Car Times 3 March 2011