Falkirk bus builders dismiss ‘for sale’ story as speculation

Stories about the future ownership of ADL have been dismissed as speculation
Stories about the future ownership of ADL have been dismissed as speculation

Bus builders Alexander Dennis Limited have dismissed reports the business is about to be sold.

A Sunday newspaper claimed Sir Brian Souter, one of the businessmen who invested heavily to save hundreds of jobs in Camelon in 2005 when TransBus went into administration, is planning to sell it off for £300 million.

It said the multimillionaire founder of transport group Stagecoach has begun talks with investment banks including HSBC about a deal.

However ADL’s group corporate affairs director Bill Simpson said the article was “pure speculation.”

He told The Falkirk Herald: “There is always speculation about our business, as there is about any progressive company that has grown rapidly both at home and abroad.

“We have been supported over a period of 10 years by a solid group of shareholders committed to investment in product, people, processes and the creation of a world-class company with global reach.

“That situation remains intact and we will continue to focus on a strategy designed to keep us at the forefront of the UK bus and coach industry while extending our interests internationally.

“We have absolutely nothing to say about purely speculative media reports.”

ADL was launched by a consortium of successful businessmen including Souter, Sir David Murray and veteran Edinburgh merchant banker Sir Angus Grossart after TransBus owners the Mayflower Corporation went bust owing millions of pounds.

The £90 million they paid for the factory on Glasgow Road secured the future of over 400 workers. It now employs over 900 there and has a total UK workforce of over 2000.

Latest accounts show the company enjoyed sales of over £541 million last year.