From 4Car, quoting The Independent:
" MG Rover's owner, Nanjing Automotive, will sign only a short-term lease for the Longbridge production site, reports The Independent on Sunday.
The Chinese company has refused to commit to a long-term contract with the site's owners, property firm St Modwen and will only agree to extending its current contract, which runs out on February 22, for six months.
A spokesman for St Modwen told the IoS that Nanjing wants more time to draw up its business plan for sports car production with the GB Sports Car Co before it signs. It wants GB SSC to buy a majority stake in the joint venture and to put up the bulk of the £100m it needs to restart production of MG vehicles.
It is clear now that Nanjing's plans for MG production have been scaled down. It is to continue to lease only 105 of the 400 acres of the site, with the remainder being redeveloped into housing, workshops, offices and a technology park, subject to planning approval."
Votes open on likelyhood of Nanjing, or anybody else, starting production of anything ...
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Longbridge is rapidly deteriorating since the closure. If I were Nanjing, I would not be looking to start any kind of production there, it would cost too much to put right.
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I can't see anything positive for the UK coming out of this.
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'put up the bulk of the £100m'
Ah. Taking chances with someone else's money. Heads you win tails you don't lose. Nice work if you can get it!
Que calls for Government Daddy to come to the rescue...
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'put up the bulk of the £100m' Ah. Taking chances with someone else's money. Heads you win tails you don't lose. Nice work if you can get it!
I can't blame them at all for saying they'll only go ahead if someone else carries a lot of the risk. Would you put your money into this project? I wouldn't!
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They got what they wanted the tooling ,machinery and the expertise at a givaway price and they do not care about the rest its called business corperate asset stripping.
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They got what they wanted the tooling ,machinery and the expertise at a givaway price and they do not care about the rest its called business corperate asset stripping.
asset stripping is a very useful term where a viable business is gutted because the assets would be more valuable elsewhere. But I's be surprised if anyone would claim that MG-Rover was a viable business.
Rather than asset-stripping, the Chinese are acting more like scrap merchants, looking for anything of value among the wreckage
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'Rather than asset-stripping, the Chinese are acting more like scrap merchants, looking for anything of value among the wreckage'
I actually agree with NoWheels!
THE SKYS GONE BLACK I CAN'T SEE THIS MUST BE THE END...
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If you look inside the factory now one could only say it has been stripped the machinery is in China they got it for a song and they no intention of starting anysort of production in the UK.If that is not asset stripping what could have beeen a low volume specialised car plant I do not know what is.I agree the company was not viable before it was bought from the receiver/administrater but what has that cost UKplc
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Thing is I don't think the current site is any good for a low-volume manufacturer anyway - too many overheads.
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'Rather than asset-stripping, the Chinese are acting more like scrap merchants, looking for anything of value among the wreckage' I actually agree with NoWheels! THE SKYS GONE BLACK I CAN'T SEE THIS MUST BE THE END...
;)
OK, I'd better give you something to disagree with. ;D
How about: all British cities should follow the example pioneered in some northe European cities, and adopt a 20mph speed for all urban roads.
Normal service resumed? ;)
(PS in case mods worry about thread drift, I'm not seeking a discussion of that idea, just trying to restore Thommo's eqilibrium)
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>>>>>>>>>How about: all British cities should follow the example pioneered in some northe European cities, and adopt a 20mph speed for all urban roads.<<<<<<<<<
In large areas of many inner ciries it would make little diference because congestion ensures that you rarely reach 20 mph anyway.
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Oh do stop being so damn depressing both of you.
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