Iconic British Taxi Maker Sold Off To The Chinese

The black taxi manufacturer LTI has been sold for £11.4m to the Chinese car manufacturer Geely.

The company has acquired the "business and the principal assets" of Manganese Bronze Holdings (MBH), the manufacturer of the London cabs.

LTI in Coventry went into administration in October with 99 out of its 176 workers losing their jobs.

The deal, which it said will safeguard production in the UK, was agreed with administrators Pricewaterhouse Coopers.

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pepito66 - 2/4/2013 11:54:30 AM

+1 Boost

Embarrassing , this is the new china game.

TehShibbs - 2/4/2013 12:49:01 PM

+2 Boost

China is playing the best game of Monopoly of ALL TIME!

Northstar - 2/4/2013 1:46:02 PM

+2 Boost

"He who has the gold makes the rules". China is amassing great amounts of money (the gold) selling their stuff to everybody. They can afford to buy up companies all over the world while the debtor nations (USA and Europe)cannot. Stay tuned for more.

HughJass - 2/4/2013 2:34:05 PM

+1 Boost

Not really, China is amassing alot of paper "I owe you" slips. Only a handful of countries still stockpile gold, most only hold token amounts. I'm pretty sure the canucks stockpile oil instead.

Anyway, its a cab maker, who cares. People should care when China asks to buy MI5 and MI6 in exchange for 2 boatloads of Walmart crap. By that time, hopefully we will have nuked Beijing by then to clean out their air pollution.

With fracking, I'd say oil is more valuable than gold and currently we're on track to have the most, even more than the Canadians. You can't power your planes with gold and a default by us will hurt China more so really, its up to America to decide when we pull the trigger.

HughJass - 2/4/2013 2:35:48 PM

+1 Boost

Who holds the power, China needing everyone else to buy to avoid government collapse, or everyone else who decides when to buy and ultimately decides when China's government will fall?

HughJass - 2/4/2013 2:37:33 PM

+1 Boost

Have you read international news lately? Beijing's air is so bad even the commies have told their people to stay in doors. It's too bad their leaders worried more about their penis sizes and rushed to get old factories and copy the West instead of doing things the right way and avoiding our mistakes.

I guess we're actually slowly poisoning them and they think they've got the upper hand.

PUGPROUD - 2/4/2013 2:40:22 PM

+2 Boost

Remember when the japenese were on top of their game and buying everything insight...then their culture (no imigration, aging
population, government involvement, corruption, social policies, etc)caused them to faultor and divest. The Chinese will have their run and their culture (human rights suppressed, class system, corruption, suppressed speech, etc etc) will cause them real proplems down the road. Our capitalistic, free market, individual initiative/reward is the best system if we do not blow it by moving further toward the European model.