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Mayflower's administrators have sold Mayflower Vehicle Systems to Stadco for £20m, securing the future of 600 staff at the Coventry-based vehicle panels business.

Mayflower's administrators have sold the TransBus bus manufacturing business, which includes sites in Falkirk, Belfast, Wigan and Guildford, to a consortium of Scottish business people led by investment bank Noble Grosart.

Mayflower's administrators have sold Plaxton, the coachbuilding company, to a management buy-out backed by Aberdeen Murray Johnstone Private Equity for £15m.

Mayflower is planning to build a new £30m bus manufacturing plant in Falkirk by 2005, with the transfer of 1,000 staff from its existing TransBus site nearby.

Mayflower Corporation has announced plans to build a £23m car body pressings plant at Fort Dunlop in Birmingham by early 2004, having won a contract from Ford to supply the new Land Rover models.

Mayflower is set to win a £70m contract to install 30 wind turbines six miles off the coast of Anglesey for RWE of Germany, in partnership with Vestas Group of Denmark.

Mayflower is planning to expand its windfarm engineering operations following the development of a new system to install and maintain offshore turbines.

Mayflower has won a contract to build 330 new buses for Stagecoach at its Alexander factory in Falkirk, which will safeguard hundreds of jobs.

Mayflower is selling Dennis Eagle, the manufacturer of refuse vehicles, as well as Douglas Equipment and Schopf to Natwest Equity Partners for £31m.

Mayflower has sold its Ribbons seat belt subsidiary to a company set up by Gresham Trust for £6.5m.

Mayflower, the UK automotive engineering concern, is acquiring SCSM, the US automotive body-pressings company, for £101m.