FROM OUR CITY EDITOR
Jaguar Cars, Ltd., are to extend their interests in commercial vehicles by the purchase of the business and physical assets of Guy Motors, Ltd. No dividend has been paid on the ordinary shares of Guy Motors since 1957, and in September a receiver was appointed by Lloyds Bank.
The group’s outstanding debts are believed to include an overdraft of about £1,250,000, but when the affairs are settled Jaguar will obtain the trading name and marketing organization, a range of commercial vehicles and buses and a 23-acre factory in Wolverhampton with about 825 employees.
FIVE-WEEK STRIKE ENDS
Two hundred maintenance electricians employed by Fisher and Ludlow Ltd., the Birmingham body-building factory of the British Motor Corporation, have ended their five-week-old strike, for which they had official backing from the Electrical Trades Union. Their pay claim was rejected by the B.M.C., who said they had returned to work on the same conditions as prevailed before the strike.
BMC – The Austin A60 and A110 are announced on this day.