KPMG holds out olive branch to Ford
Following threats of legal action from US car giant Ford, KPMG said today it still wanted to negotiate with Land Rover to secure an engineering company's future.
The big five firm is acting as receiver for UPF, sole supplier of chassis for Ford’s Land Rover Discovery car, and has demanded up to £45m to continue to supply the chassis.
KPMG’s Mark Orton, receiver for Midland’s based UPF, said: ‘While I understand Ford’s concern, I hope they will understand our legal duties and therefore take us up on our offer to reach a negotiated settlement.’
Land Rover makes up nearly two thirds of UPF’s business, which employs 700 workers in the West Midlands, mainly at Wolverhampton.
Ford had earlier threatened to organise a boycott of KPMG by fellow motor manufacturers – the big five firm counts BMW and Daimler Chrysler among its clients.
Two years ago Ford failed in a similar attempt to prevent receivers from increase the price of a contract with Transtec.