Rover is dead - long live the Alchemy plan

So Jon Moulton and his Alchemy Partners weren't so wrong after all. A darn site more honest than the Phoenix gang, the supportive comments made about them in this NG notwithstanding.

The taxpayer and the Rover workers could have been saved a lot of money and the workers a lot of heartache if the trades union had not been so blind and government had not waded in in support. Whatever one may have thought about the Rover cars, the fact was that sales were plummetting even when John Towers et al took over.

DAS

Bidders race for the MG badge

A company with ties to one of the most famous British sports cars is bidding to save the MG brand and keep production in the West Midlands. Chapman Automotive, founded by associates of the late Sir Colin Chapman, the father of Lotus, has announced its intention to buy the MG name and the rights to build the MG TF two-seater sports car. The company says it is backed by a consortium of investors and an overseas vehicle manufacturer, rumoured to be Proton. Its plan relates solely to the MG's two-seater TF sports car, with production moved from Longbridge to a site nearby.

Chapman will face competition from a consortium of six former bosses of Powertrain, the engine-building side of MG Rover. Using the name UK Sports Cars, the group is seeking to resurrect the Austin Healey marque as well as reviving MG's sporty image, see left. It would retain MG TF production at Longbridge.

Martin Leach, former European president for Ford, has been linked with a possible third British bid, but refused to confirm or deny his involvement. Last week a potential deal with the Iranian government, which had announced it was considering a bid for the whole of MG Rover, fell through.

The rights to build the Rover 25 and 75 in China have already been sold to the Shanghai Automotive Industry Corporation as part of the failed talks aimed at forming a joint venture between the companies.

The Rover administrator Price Waterhouse Coopers has received "12 credible offers" relating to the business. It is expected to respond to bids before the end of the month.

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Dori A Schmetterling
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(I am sure a lot of you read it.)

DAS

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Dori A Schmetterling

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