Some 120 jobs will now be retained following the purchase of Fruehauf, a tipping trailer and truck body manufacturer, based in Grantham, Lincolnshire.
The purchaser is a specialist truck provider, MV Commercial, and it has also agreed to supply Fruehauf with a £30 million cash injection, followed by a further £30 million investment over the next three years
The funding will be used to update the manufacturing premises and boost performance at Fruehauf’s 67-acre Grantham site. Plans also include opening a truck sales and rental facility on-site within the next month. Work has already begun to upgrade much of the site.
Employees Return to Site
It was reported that production capacity within the factory should soon reach 15-20 trailers again each week. Employees will also be brought back to the workplace in the coming weeks – many were previously furloughed.
MV Commercial employs 190 staff across five sites. It added it has further plans to revive the well-known ‘Crane Fruehauf’ name, by which the business was known until around 1998. This rebranding is expected to be completed in the near future.
Tom O’Rourke, CEO of MV Commercial, said: “This is a hugely significant day for both businesses, and quite simply an opportunity we couldn’t turn down. Fruehauf has a fantastic product range, a rich heritage, and a wealth of talent within Grantham which will be complemented by our own strength and experience in the marketplace.
“With immediate effect we are starting work to scale production back up, enabling us to commit to a delivery schedule for outstanding customer orders and begin building new stock trailers for MV’s own contract hire and ready-to-go fleets.”
Steven Cairns, Managing Director of MV Commercial, added: “Fruehauf is a major local employer and we will be transferring 100 percent of the current workforce under TUPE.
“We also have a clear ambition to grow our presence on site. Grantham is the perfect fit for us, and the longer-term goal is to bring additional employment and apprenticeship opportunities to the town.”