According to reports in this morning's (25th November 2005) Financial Times:
"The Chinese owner of the former assets of MG Rover has agreed to sell the
Austin-Healey brand to a team of ex-managers of the failed carmaker as part of
a
provisional agreement to restart vehicle production in Birmingham.
Nanjing Automobile and GB Sports Car signed a memorandum of understanding on
Wednesday...
Further negotiations are required befor a binding contract can be signed
committing the two sides to British car production...But a final agreement
is...
likely within six months assuming legal and financial details can be settled.
...
The agreement o sell the venerable Austin-Healey name suggests GB Sports could
start its own sports car manufacturing even if the deal with Nanjing fails to
materialise.
...
GB Sports which is backed by unidentified US funds refused to confirm the
agreement. GB Sports said " The talks are progressing well. ...there is still
some way to go".
GB Sports believes the Austin-Healey badge, last used in 1968 still has
resonance with drivers."
OK so which of you put his hands in their pockets??!!
Peter Dzwig
|