BMW has today sold off the bits of Rover it doesn't want to
a venture capital company. Below is a statement from that
company. By the way the company in question has been
involved in pubs and restaurants up to now. I don't want to
get too cynical but.....
Alchemy Partners is pleased to announce the
impending launch of the MG Car Company following
today's outline agreement with BMW to acquire Rover
Group.
The new company will continue with Rover's current
model range of the 25, 45, 75, Old Mini and MGF will
provide ongoing service to Rover's customers.
The new company will focus on developing a state of
the art British built product range worthy of the
sporting heritage of the MG name.
The product will use the latest developments in
composites and aluminium body technology and will
appeal to the motoring enthusiast well versed in the
history of the marque going back to the former Morris
Garages which started modifying standard Morris
Cowleys in 1922.
The MG Car Company will be synonymous with British
technology and manufacturing know-how at its best,
producing cars which are sought after in the medium
volume segment of the market.
The new company will be a responsible custodian of
the MG brand and the entire current Rover model
range investing in and taking its products to new levels
of desirability.
It is expected that the MG Car Company will employ a
significant workforce and will rapidly develop into a
selfstanding highly viable British car manufacturer.
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