Deal agreed to save van maker LDV

A last-ditch deal to save van maker LDV from going bust has been agreed with a Malaysian firm, safeguarding hundreds of jobs, it was disclosed tonight.

Weststar has agreed to buy the Birmingham-based business and invest money into the plant, which has been at a standstill since before Christmas.

The company was due to go into administration tomorrow, raising fears that the 850 workers would be made redundant and the jobs of hundreds, if not thousands, of employees at other companies would also be lost.

But sources said tonight that a deal had been signed with Weststar to buy the entire business.

Negotiations between the company, LDV and British government officials were believed to be continuing this evening to finalise the deal and avoid administration.