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22/10/2012
Black Cab Maker Enters Administration
The maker of London's black cabs has gone into administration, putting almost 300 British jobs at risk.
Manganese Bronze, which has been making black cabs since 1948, said talks with various parties to secure last-minute rescue funds had ended in failure.
The company – which manufactures the cabs in China – employs 288 people in Coventry. It is expected to call in administrators PricewaterhouseCoopers.
Manganese was locked in emergency talks with executives from Geely, the Chinese carmaker, over the weekend in an attempt to secure a bailout. Geely already owns 20% of the company but negotiations broke down and Manganese said the two could not agree on "acceptable" terms.
Manganese's chief executive, John Russell, had said the group needed several million pounds a month to stay afloat.
A former British success story, Manganese has failed to turn a profit since 2007. The company has faced growing competition after cab drivers were given permission to use the Mercedes Vito, breaking Manganese's monopoly. Japanese carmaker Nissan is also working on a version of the black cab.
Manganese shares – which were suspended at 10p, valuing the company at just £3m – have fallen 70% in the past year. Just five years ago, they were changing hands at more than 800p each.
(H)
Manganese Bronze, which has been making black cabs since 1948, said talks with various parties to secure last-minute rescue funds had ended in failure.
The company – which manufactures the cabs in China – employs 288 people in Coventry. It is expected to call in administrators PricewaterhouseCoopers.
Manganese was locked in emergency talks with executives from Geely, the Chinese carmaker, over the weekend in an attempt to secure a bailout. Geely already owns 20% of the company but negotiations broke down and Manganese said the two could not agree on "acceptable" terms.
Manganese's chief executive, John Russell, had said the group needed several million pounds a month to stay afloat.
A former British success story, Manganese has failed to turn a profit since 2007. The company has faced growing competition after cab drivers were given permission to use the Mercedes Vito, breaking Manganese's monopoly. Japanese carmaker Nissan is also working on a version of the black cab.
Manganese shares – which were suspended at 10p, valuing the company at just £3m – have fallen 70% in the past year. Just five years ago, they were changing hands at more than 800p each.
(H)
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01 February 2013
Chinese Car Company Buys Black Taxi Manufacturer
Geely, a Chinese car manufacturer, has bought black cab manufacturer LTI for £11.4m. The "business and the principal assets" of Manganese Bronze Holdings (MBH), the manufacturer of the London cabs has been acquired by the Chinese firm after LTI in Coventry went into administration in October with 99 out of its 176 workers losing their jobs.
Chinese Car Company Buys Black Taxi Manufacturer
Geely, a Chinese car manufacturer, has bought black cab manufacturer LTI for £11.4m. The "business and the principal assets" of Manganese Bronze Holdings (MBH), the manufacturer of the London cabs has been acquired by the Chinese firm after LTI in Coventry went into administration in October with 99 out of its 176 workers losing their jobs.
26 March 2015
New Black Cab Factory Creates 1,000 New Jobs
Up to 1,000 new jobs are to be created in Coventry in a new taxi plant, the London Taxi Company (LTC) has announced. It is understood that the new £250 million factory will focus on production of the next generation of electric and low-emission vehicles. The first new vehicles are expected to leave the new Ansty Park site in 2017.
New Black Cab Factory Creates 1,000 New Jobs
Up to 1,000 new jobs are to be created in Coventry in a new taxi plant, the London Taxi Company (LTC) has announced. It is understood that the new £250 million factory will focus on production of the next generation of electric and low-emission vehicles. The first new vehicles are expected to leave the new Ansty Park site in 2017.
01 July 2014
Thousands Of Unemployed Scots Left In Poverty - CAS
Thousands of sick, disabled and unemployed people from Scotland are being left in poverty as their benefit payments are stopped. In a new report published today by Citizens Advice Scotland (CAS) shows that many people hit by benefit 'sanctions' are forced into poverty and ill health, often having to rely on foodbanks.
Thousands Of Unemployed Scots Left In Poverty - CAS
Thousands of sick, disabled and unemployed people from Scotland are being left in poverty as their benefit payments are stopped. In a new report published today by Citizens Advice Scotland (CAS) shows that many people hit by benefit 'sanctions' are forced into poverty and ill health, often having to rely on foodbanks.
27 February 2012
Unlicensed Cab Driver Jailed For Sexual Assaults
An unlicensed cab driver has been sentenced at Isleworth Crown Court today following sexual assaults on two women in Kingston and Chelsea in 2010. Amir Bhatti, 33, of Cranford Lane, Hounslow pleaded guilty to two counts of sexual assault and one count of theft in October 2011. He was sentenced to four years' imprisonemnet for public protection.
Unlicensed Cab Driver Jailed For Sexual Assaults
An unlicensed cab driver has been sentenced at Isleworth Crown Court today following sexual assaults on two women in Kingston and Chelsea in 2010. Amir Bhatti, 33, of Cranford Lane, Hounslow pleaded guilty to two counts of sexual assault and one count of theft in October 2011. He was sentenced to four years' imprisonemnet for public protection.
25 October 2010
Safer Transport At Night Campaign Launched
The Metropolitan Police Service (MPS) Cab Enforcement Unit, part of the Transport for London (TfL) funded Safer Transport Command (STC), have made more than 100 arrests in a bid to tackle illegal cab drivers in London. As part of the Operation Safer Travel at Night (STaN), officers increased night-time patrols over three weekends.
Safer Transport At Night Campaign Launched
The Metropolitan Police Service (MPS) Cab Enforcement Unit, part of the Transport for London (TfL) funded Safer Transport Command (STC), have made more than 100 arrests in a bid to tackle illegal cab drivers in London. As part of the Operation Safer Travel at Night (STaN), officers increased night-time patrols over three weekends.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
