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Monday, 25 July 2005 |
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Chinese automaker Nanjing Automobile last week beat off the challenges from rival manufacturer Shanghai Automotive and UK bidders Kimber to become the new owners of MG Rover for just over £50m.
PricewaterhouseCoopers, which took over administration of Rover when the automaker filed for bankruptcy in April, said Nanjing had bought the assets of both MG Rover and its engine-producing subsidiary, Powertrain Nanjing intended to relocate the engine plant and some car production plant to China but to has plans for the creation of a UK based design and technology centre. Questions still remain about how much production Nanjing would retain in Britain and how many jobs would be involved.
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