MV Commercial has completed a multi-million-pound deal to buy tipping trailer and rigid body manufacturer Fruehauf out of administration.
The deal protects 120 jobs and includes an immediate cash injection and a commitment to a further £30m investment over the next three years, as part of ambitious plans to modernise the manufacturing facility and realise the full potential of the 67-acre site in Grantham, Lincolnshire.
MV Commercial will also revive the legendary ‘Crane Fruehauf’ name, by which the business was known until around 1998. The rebranding is expected to be completed in the coming weeks.
Tom O’Rourke, CEO of MV Commercial, said: “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.”