[ROVERNET - UK] Press release from MGR re Loans & China

Marc Stainier marc.stainier at belgacom.net
Fri Apr 8 13:17:02 BST 2005

Deeply sorry but a " breaking news" is just arrived now to announce the
launching of a procedure to end the MG-Rover Group.
Longbridge plans (the factory near Birminghan) is  stopping the production
The project of Partnership with SAIC is definitively dead.

My wishes go to all people who've worked for the survival of our favourite
cars and to all the faithful workers and suppliers.

There is one more jewel missing on the Queen's Crown.

Bloody Friday !

Marc Stainier

 -----Message d'origine-----
De : 	rovernet-bounces at lyris.ccdata.com
[mailto:rovernet-bounces at lyris.ccdata.com]  De la part dePeter Huttemeier
Envoyé :	vendredi 8 avril 2005 04:52
À :	rovernet at lyris.ccdata.com
Objet :	[ROVERNET - UK] Press release from MGR re Loans & China

MG Rover calls on UK Government to decide on loan

Today MG Rover called on the Government to make a decision on the
bridging loan which will open the way to the car maker completing
complex negotiations with the Chinese company SAIC.  The loan is
crucial if the partnership is to be established.

Peter Beale, PVH vice chairman commented:" We requested the bridging
loan from the Government to provide the additional time needed to
complete our partnership with SAIC. The PVH directors will provide £10
million of personal money to convince the Government of our
commitment. What we need now is the Government to decide.

"Speculation about the ability of MG Rover to survive will continue to
mount as long as the decision on the loan is delayed. The speculation
has affected the confidence of our suppliers and dealers and time is
clearly running out."



Peter H

rovernet mailing list
rovernet at lyris.ccdata.com
To unsubscribe, go to this web page, look near the bottom and follow

More information about the rovernet mailing list