Nearly £50m in financial backing from Gaz has enabled LDV to introduce a number of new products to the market, including the new Maxus chassis cab range and Maxus minibuses, which have helped boost revenues. The manufacturer celebrated the news with a special ceremony in Birmingham's Centenary Square attended by Birmingham's deputy Lord Mayor, Mike Sharpe.

“Our celebrations round off an immensely successful 12 months,” said Steve Young, chief executive for the brand. “Gaz has proved a fantastic new owner for the business, backing us financially with a £48m refinancing package last year and the resources to invest in new products and enter new markets.” No figures have been published by LDV.