Jack_Bauer
02-22-2006, 10:11 AM
Looks like the first significant step has been taken in resurrecting MG cars from the grave. It was always hoped that Nanjing Automotive would use the Longbridge site to carry on some sort of production, but things have been worryingly quiet for the past 9/10 months since MG Rover went under. Seems things are finally looking up! :)
Chinese firm signs Rover plant deal
A "landmark" deal opening the way for car production at the site of the collapsed Rover car business has been signed.
Chinese firm Nanjing Automobile Association agreed a 33-year lease with the owners of the huge Longbridge site in the West Midlands.
Site owner St Modwen said it was now looking forward to a "long and fruitful" relationship with Nanjing, which bought MG Rover for £50 million last summer.
The Chinese company said it could now move forward with its business plan to build cars at Longbridge.
The agreement, signed in a ceremony at the Longbridge plant in Birmingham, is for Nanjing to take the 33-year lease at a rent of around £1.8 million a year on 105 acres of the 469-acre site.
The deal covers the South Works of the former MG Rover plant, incorporating two car assembly plants, the paint shop and administrative offices.
The terms of the lease incorporate a six-month break clause in case Nanjing is unable to confirm a viable long-term future for the site.
Wang Hongbiao, chairman of Nanjing, said: "I am delighted that we have reached an arrangement with St Modwen Properties. This means that we can move forward with our business plan to build cars at Longbridge.
"The MG brand is famous and we are proud to project it into an exciting future. We are grateful for the help and support Birmingham City Council has given us throughout this process and look forward to working with them in the future."
Bill Oliver, chief executive of St Modwen Properties, described the agreement as opening a new chapter in the long history of car production in Birmingham
Chinese firm signs Rover plant deal
A "landmark" deal opening the way for car production at the site of the collapsed Rover car business has been signed.
Chinese firm Nanjing Automobile Association agreed a 33-year lease with the owners of the huge Longbridge site in the West Midlands.
Site owner St Modwen said it was now looking forward to a "long and fruitful" relationship with Nanjing, which bought MG Rover for £50 million last summer.
The Chinese company said it could now move forward with its business plan to build cars at Longbridge.
The agreement, signed in a ceremony at the Longbridge plant in Birmingham, is for Nanjing to take the 33-year lease at a rent of around £1.8 million a year on 105 acres of the 469-acre site.
The deal covers the South Works of the former MG Rover plant, incorporating two car assembly plants, the paint shop and administrative offices.
The terms of the lease incorporate a six-month break clause in case Nanjing is unable to confirm a viable long-term future for the site.
Wang Hongbiao, chairman of Nanjing, said: "I am delighted that we have reached an arrangement with St Modwen Properties. This means that we can move forward with our business plan to build cars at Longbridge.
"The MG brand is famous and we are proud to project it into an exciting future. We are grateful for the help and support Birmingham City Council has given us throughout this process and look forward to working with them in the future."
Bill Oliver, chief executive of St Modwen Properties, described the agreement as opening a new chapter in the long history of car production in Birmingham