DAF NV

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.

DAF NV
TypeHolding company
IndustryAutomotive
PredecessorDAF Trucks
Leyland Trucks Division
SuccessorDAF Trucks
LDV Group
Leyland Trucks
Founded6 April 1987
FounderDAF Beheer
Rover Group
DefunctFebruary 1993
Headquarters
Eindhoven
,
Netherlands
ProductsTrucks
Vans
SubsidiariesDAF Trucks
Leyland DAF

History

DAF 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:

References
  1. Record year for Daf Trucks Commercial Motor 18 April 1987
  2. Daf BV ahead at half time Commercial Motor 1 September 1988
  3. Parker, David (2012). The Official History of Privatisation. Abingdon-on-Thames: Routledge. ISBN 9780415692212.
  4. Daf shares offer Commercial Motor 20 April 1989
  5. Sharing the Daf cake Commercial Motor 4 May 1989
  6. DAF 6.75% PERP Guy Butler Limited
  7. Component and axle plants merge Commercial Motor 2 December 1993
  8. Commission Takes Final Decision on State Aid to the Truck Producer DAF European Commission
  9. Paccar Agrees to Purchase of DAF for $542.8 Million The Wall Street Journal 7 October 1996
  10. Van firm in £1.5bn bid BBC News 2 May 2002
  11. Leyland Trucks is back Commercial Motor 17 June 1993
  12. Hard road back from despair The Independent 2 January 1994
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