You are here: Home - Uncategorized -

Longbridge set to reopen with new Chinese owner

0
Written by:
31/01/2007

The defunct Longbridge car plant, shut for almost two years after the demise of Rover, is to restart production of MG models under the auspices of Chinese owner Nanjing Automobile, which has made a big UK investment in the plant, within the next few months.

A spokesperson for Nanjing said that its purpose was to “revive, maintain and develop” the MG brand at the plant and to resuscitate the local economy in the process.

Nanjing bought the plant and other Rover assets for £53m in 2005 as part of a significant UK investment in the area.

Almost 6,000 Rover workers lost their jobs when the firm went into administration two years ago and the factory has been inactive since then. The plan now is for Nanjing to start test production of the MG-TF sports car, and to begin full-scale manufacturing in April.

By this time around 250 people will be employed at the plant, although the plan is to step up production to enhance the UK investment in the plant and for 3,000 cars to be made in the first full year.

This is projected to rise to 12,000 vehicles by 2009 and eventually a full capacity of 15,000 cars a year as the capacity of Nanjing’s UK investment increases. The TF model is expected to go on sale in the UK in July, while hard-top versions will be available next year.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Fewer mortgages approved as housing market ‘cools’

New mortgage approvals for December fell compared the previous month, according to figures from the Bank of England.

Close