• search

Nanjing takes lease on MG Rover UK car site

Written by: Staff
|

LONDON, Feb 22 (Reuters) Chinese carmaker Nanjing Automobile took a lease on Wednesday on the former MG Rover plant at Longbridge, central England, and said it still hoped to revive production at the site.

''This means we can move forward with our business plan to build cars at Longbridge. The MG brand is famous and we are proud to project it into an exciting future,'' Nanjing UK Chairman Wang Hongbiao said in a statement.

Property developer St. Modwen Properties Plc, which owns the site, said in a statement Nanjing signed a 33-year lease. It did not comment on UK newspaper reports that the lease included a 6-month break clause in case Nanjing's plans fell through.

Nanjing bought MG Rover out of bankruptcy last year. The British carmaker collapsed under debts of 1.4 billion pounds ( LONDON, Feb 22 (Reuters) Chinese carmaker Nanjing Automobile took a lease on Wednesday on the former MG Rover plant at Longbridge, central England, and said it still hoped to revive production at the site.

''This means we can move forward with our business plan to build cars at Longbridge. The MG brand is famous and we are proud to project it into an exciting future,'' Nanjing UK Chairman Wang Hongbiao said in a statement.

Property developer St. Modwen Properties Plc, which owns the site, said in a statement Nanjing signed a 33-year lease. It did not comment on UK newspaper reports that the lease included a 6-month break clause in case Nanjing's plans fell through.

Nanjing bought MG Rover out of bankruptcy last year. The British carmaker collapsed under debts of 1.4 billion pounds ( LONDON, Feb 22 (Reuters) Chinese carmaker Nanjing Automobile took a lease on Wednesday on the former MG Rover plant at Longbridge, central England, and said it still hoped to revive production at the site.

''This means we can move forward with our business plan to build cars at Longbridge. The MG brand is famous and we are proud to project it into an exciting future,'' Nanjing UK Chairman Wang Hongbiao said in a statement.

Property developer St. Modwen Properties Plc, which owns the site, said in a statement Nanjing signed a 33-year lease. It did not comment on UK newspaper reports that the lease included a 6-month break clause in case Nanjing's plans fell through.

Nanjing bought MG Rover out of bankruptcy last year. The British carmaker collapsed under debts of 1.4 billion pounds ( LONDON, Feb 22 (Reuters) Chinese carmaker Nanjing Automobile took a lease on Wednesday on the former MG Rover plant at Longbridge, central England, and said it still hoped to revive production at the site.

''This means we can move forward with our business plan to build cars at Longbridge. The MG brand is famous and we are proud to project it into an exciting future,'' Nanjing UK Chairman Wang Hongbiao said in a statement.

Property developer St. Modwen Properties Plc, which owns the site, said in a statement Nanjing signed a 33-year lease. It did not comment on UK newspaper reports that the lease included a 6-month break clause in case Nanjing's plans fell through.

Nanjing bought MG Rover out of bankruptcy last year. The British carmaker collapsed under debts of 1.4 billion pounds ($2.44 billion) in April 2005, leading to 5,000 job losses at its main plant.

Nanjing had said it aims to revive production at Longbridge and would make up to 80,000 cars annually with the MG Rover badge each year and employ 2,000 workers in Britain within five years.

REUTERS SD RN1815 .44 billion) in April 2005, leading to 5,000 job losses at its main plant.

Nanjing had said it aims to revive production at Longbridge and would make up to 80,000 cars annually with the MG Rover badge each year and employ 2,000 workers in Britain within five years.

REUTERS SD RN1815 .44 billion) in April 2005, leading to 5,000 job losses at its main plant.

Nanjing had said it aims to revive production at Longbridge and would make up to 80,000 cars annually with the MG Rover badge each year and employ 2,000 workers in Britain within five years.

REUTERS SD RN1815 .44 billion) in April 2005, leading to 5,000 job losses at its main plant.

Nanjing had said it aims to revive production at Longbridge and would make up to 80,000 cars annually with the MG Rover badge each year and employ 2,000 workers in Britain within five years.

REUTERS SD RN1815

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more