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>From http://www.forbes.com/markets/feeds/afx/2007/06/12/afx3813254.html
AFX News Limited
Nanjing agrees partnership on Healey and Austin Healey brands
06.12.07, 2:07 PM ET
LONDON (Thomson Financial) - The Chinese owner of the rump of bankrupt
British car giant MG Rover said it has done a deal paving the way for
the revival of one of the UK's most famous car brands.
Nanjing Automobile Corp (NAC) said it had reached an agreement with
Healey Automobile Consultants Ltd and HFI Automotive Ltd to
collaborate on the future development of the Healey and Austin Healey
brands and sports cars bearing their name.
Nanjing said in a statement that the deal ends long-standing issues
about ownership of the brands and trade marks and expands
opportunities for joint trade between the companies.
NAC is the Chinese parent company of Nanjing Automobile Corporation
(UK) Ltd, which acquired the assets of MG Rover in July 2005.
It makes and sells cars worldwide and recently restarted production of
the MG TF sports car at the former Rover plant at Longbridge in
Birmingham.
Nanjing said last year that it may bring back the Austin marque for a
range of new cars to be designed at Longbridge.
HFI is the automotive partner of HAC, which owns the Healey brand.
philip.waller@thomson.com
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Patton Dickson - http://Austin-Healeys.com
1957 Austin-Healey 100-Six "Built to run 'til the road wears out."
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