MG/Rover saved ?

kermit_ie

Shanghai Automotive Industry Corp (SAIC) has signed an agreement with Martin Leach, ex-head of Ford of Europe, to rescue MG Rover.

They say they will put in a bid to administrator PricewaterhouseCoopers to buy Rover's assets.

The proposal involves a substantial amount of carmaking at Longbridge and a nearby research centre for new models.

Nanjing Automobile of China submitted a bid to PwC on Wednesday involving carmaking at Longbridge.

The SAIC-Leach proposal - from bid vehicle Magma Holdings - and the Nanjing bid are likely to be the frontrunners among the expressions of interest in Rover's assets.

Full story here:
http://news.bbc.co.uk/2/hi/business/4681369.stm

podge3

I've been following the MG Rover story recently since I bought a new 75.

While no deal has been signed yet, apparently, signs are good for a resumption of production at Longbridge.

The 75 also looks like it may be getting made again, which is excellent news.

Guy:Incognito

podge3 wrote:

I've been following the MG Rover story recently since I bought a new 75.

While no deal has been signed yet, apparently, signs are good for a resumption of production at Longbridge.

The 75 also looks like it may be getting made again, which is excellent news.

Sky news showed pictures of a new model 75 yesterday, the sound was turned down so I dontknow the details but maybe talks are more advanced than first thought? Looked gorgous (sp?) btw.

mike65

Mike.

ps rofl!

podge3

Stekelly wrote:

Sky news showed pictures of a new model 75 yesterday, the sound was turned down so I dontknow the details but maybe talks are more advanced than first thought? Looked gorgous (sp?) btw.

Yeah, there has been a lot of news interest in the saga in the past few day. I think no-one really knows whats going on except for the administrators and the 3 or 4 bidders.

The pictures going about at the moment on the telly and in Auto Express seem to be mock-ups or designs that have been around for a while. As no deal had been signed yet, its highly unlikely that any new models will be here for quite a while.

Most likely scenario if production is resumed is that the 75 and some of the sports cars may be made for a while until new models can be introduced.

Good news anyway.

VeVeX

The only negative that has come with that plant shutting down is the loss of jobs other then that its a godsend. I really cant understand otherwise whey anyone would care. BMW realised they had an elephant on their hands pretty lively. Maybe just maybe the 75 would be worth saving purely because it wasn't the in house Rover monkeys that designed it. Whichever of the monkeys thought putting a MG badge and a bodykit on Rover 25 would be a good idea sould be shot with their own primate poo. To mention the words sport and car in the same breath as MG/Rover based on their current line up is funny IMHO.

Rover should stay shut and go down in history as how not to design and build cars.
(Current MG/Rover owners beware....Its also most likely that tweed stock prices will fall so withdraw your capital NOW)

drdre

the new 75 looks cool.

VeVeX

Still has the word Rover on its rear, regardless of looks it will still be a Rover.

Its for obvious reason why the name is more prevalent with dogs

Nuttzz

smart move by SAIC, buy it in April and they would have been under pressure to save most/all of the jobs, buy it now and they can hire as many or few (i suspect the latter) as they want.