Henlys' bid fight gains pounds 17m boost

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The Independent Online
HENLYS, the motor group, says its battle to fend off a pounds 28m bid from T Cowie has been bolstered by pounds 17m worth of new orders, writes Russell Hotten.

Announcing the contracts yesterday Robert Wood, the chief executive, said they undermined Cowie's claim that his company did not have a strong order book.

The contracts, for 370 coach and bus bodies to be delivered by 1994, includes a pounds 7.5m order from Stagecoach. National Express and the tour operator Wallace Arnold have also placed orders.

Mr Wood said: 'These deals fill our order book to the end of 1992 and beyond, which proves to our critics that we are winning the business.'

He said there was no significance in the decision to announce the contracts now.

'This is all genuine business that has been won in the past four to six weeks,' he added.