Camelon bus builder dismisses takeover talk

Bus building giant Alexander Dennis Limited has dismissed suggestions it could be the target of a £200 million takeover bid from the Far East.
By The Newsroom
Published 1st Feb 2016, 12:00 BST
Updated 1st Feb 2016, 12:32 BST
ADL has denied talks have taken placeADL has denied talks have taken place
ADL has denied talks have taken place

The Camelon-based firm, which signed a deal last October to build zero-emission electric vehicles for Chinese company BYD, was reported to be on the radar of Yutong, a major automotive firm listed on the Shanghai stock exchange.

It was claimed “preliminary talks” between the sides have already been held, but this week ADL insisted: “We are not in discussions with any Chinese bus manufacturers at this time.”

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Chief executive officer Colin Robertson said: “There have been articles in newspapers and other media speculating on future company ownership. There is frequently a degree of interest from investors and trade buyers in companies like ADL which have grown successfully at home and internationally.

“We remain committed to our long-range strategy of strengthening ADL’s position at the forefront of the bus and coach industry in many global markets and periodically undergo strategic reviews to identify options which will support us in achieving this objective.

“Whatever the outcome of any such exercise, our aim will always be to secure the long-term stability of the business and everyone associated with our success, including team members, customers and suppliers.”

The partnership with BYD, the world’s biggest producer of electric buses, could be worth up to £2 billion.