Optare’s parent company increases shareholding04 December 2017

Optare’s parent company Ashok Leyland has increased its stake in the Leeds-based bus and truck manufacturer to more than 98%, by converting existing loans into shares.

Optare’s chairman John Fickling said the move “secures the financial stability of the company towards long-term growth”.

President Graham Belgum added that despite challenges in the UK market, the outlook for Optare is positive thanks to overseas demand for its buses, including the Metrodecker (pictured).

“The Metrodecker EV completed trials successfully with First York and First West Yorkshire recently, the first trials of a new fully electric double-deck bus outside London,” said Belgum.

“We are also seeing significant developments in export, with orders being secured in Australia and New Zealand, including a major contract for 114 Metrocity buses for a major operator in New Zealand and several tenders under consideration in the Middle East.”

Author
Laura Cork

Related Companies
Optare plc

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