Made in China: Now London’s black cabs firm are bought by Chinese firm
Published 01/02/2013 | 09:17
China's Geely Automobile Holdings has bought Manganese Bronze, the maker of London's iconic black taxi, for £11 million.
The deal, which will safeguard production of the vehicles in Britain, was agreed with PricewaterhouseCoopers, who were appointed administrators of the British business last October.
Geely, which was the company's biggest single creditor, said on Friday it would continue to assemble the TX4 model at Manganese Broze's plant in Coventry, in mid-England.