OTHER NEWS - Feb. 22, 1993
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Coalition to Assist Dutch Truck Maker: A wide-ranging coalition of banks, insurers, governments, parts suppliers, investors and a grass-roots fund has pulled together to provide a $490-million bailout plan to resurrect the flagging Dutch truck maker DAF. “The period of uncertainty over the continuity of DAF has come to an end,” court-appointed receivers and DAF Chairman Cor Baan said in a statement. “She has been saved in a slimmed-down form.” The survival plan slashes the big truck maker by more than half, which should help it survive in a depressed and fiercely competitive European truck market, officials hope.
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