London Taxi saved

Black cab maker bought by Chinese firm Geely

Published:  01 February, 2013

A DEAL has been struck to keep the London taxi in production.

Manganese Bronze Holdings, the maker of the famous black cab, filed for administration late in 2012. However administrator Price Waterhouse Coopers (PwC) felt that there was significant goodwill and was confident of finding a buyer.

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The deal includes retaining The London Taxi Company Head Office production and assembly plant in Coventry, the Mann & Overton dealership in London including its property, and all related dealership assets including those in Manchester and Edinburgh.

Most importantly The London Taxi Company's stock of new and unregistered vehicles together with the entire fleet of used and demonstrator vehicles are also part of the deal with Geely UK.

Matthew Hammond, lead joint administrator and Partner at PwC said: "I would like to extend our thanks to all whom have played a part in this rescue of The London Taxi Company including the management team and staff, UNITE as the representative of many of the employees, Transport for London and the London Taxi Drivers Association, the funders and particularly key suppliers."

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