• Sun. Apr 14th, 2024

External Agency to Analyze Crisis Plan for Bus Manufacturer Van Hool at Government’s Request

BySamantha Johnson

Mar 8, 2024
External Agency to Analyze Crisis Plan for Bus Manufacturer Van Hool at Government’s Request

The Flemish government has appointed an external study agency to analyze the restructuring plan of crisis manager Marc Zwaaneveld at bus builder Van Hool. The plan involves moving a large part of production to North Macedonia. After an analysis of these measures, Flanders will decide on possible support, likely in the coming week.

The Flemish ministers saw the crisis plan for the first time on Thursday evening. Zwaaneveld proposes that Van Hool stop producing city buses, focusing instead on coaches to be produced in North Macedonia. The government has not yet been informed about potential job losses resulting from these changes. This information will be shared after a works council meeting on Monday.

Flemish top ministers recently discussed the plan with Participatiemaatschappij Vlaanderen (PMV) and Gigarant. Flanders may consider participating in the manufacturer’s capital through PMV, ideally alongside a new private partner. It is also possible that the guarantee on loans totaling 30 million euros will be extended via Gigarant.

However, decisions on these matters are not immediate. The government wants to ensure that the company has a realistic future post-restructuring, necessitating a thorough analysis of the plan. Consultations with banks are scheduled for next week, and a decision on a support plan may follow in the days after the works council meeting.

By Samantha Johnson

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