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FISHER AND LUDLOW'S POLICY
Fisher and Ludlow, the motor body builders, are to con- centrate in the immediate future on efficient production rather than on expansion. This is the outcome of the board's view that the facilities for pressing and motor body building are at present approximately adequate unless motor-car production increases considerably. In announcing this decision at the meeting on Tuesday, Mr. R. Hugh Roberts, the chairman, made two points of a wide general interest. He feels that the short-term prospects of a considerable expansion in motor production are not impressive, unless perhaps in the export market, and he urges the need for greater co-operation within the motor industry.
Fisher and Ludlow are among those firms which are doing an important armament business from which, as Mr. Roberts reminded shareholders, they must not expect extravagant profits. But if the armament business is not of great imme- diate profit to the firm Mr. Roberts found in it one important (Continued on page 1072)
FINANCIAL NOTES
(Continued from page 1070)
advantage which other industrial leaders have not so far noted. The stringent adherence to accuracy and quality of workmanship required will tend, in his view, to raise the general standard of commercial work and improve the country's competitive position in export markets
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