Manganeze Bronze is the company that owns the company that manufactures the City of London's Black Cab. It is manufactured in Coventry. Identical cabs are also manufactured in Shanghai by Geely, one of China's biggest vehicle manufacturers. Geely supplies the world with the black cabs whilst Manganeze bronze supplies the U.K. only. This was as a result of an agreement by Geely and Manganeze Bronze in 2007. Geely owns 20% of Manganeze Bronze as a result of an agreement which gave them rights to produce the legendary black cab.
After the sale of part of the company to Geely, Manganeze Bronze sold the production plant in Coventry to a property company. Manganeze Bronze has been renting the building back since. This would raise question marks in many people's eyes as to whether Manganeze Bronze was seriously continuing long term interests of production of the cabs in the U.K.
Although selling off the plant may have short term benefits to Manganeze Bronze, such as cash flow the long term problems and added costs should have been predicted. The new owners of the plant are leasing the plant, obviously at a cost which the property under ownership by Manganeze Bronze would have been far lower.
Manganeze Bronze had been attempting to make a finance deal with Geely which would allow the Coventry plant to continue manufacturing.
The company has just announced that it is going into administration, after a failure to negotiate a deal that was acceptable to Manganeze bronze.
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What is most significant about this is how predictable it all seems to be.........
From the day Geely began manufacturing the cabs, they became competition to Manganeze Bronze. In fact, unfair competition in that Geely had far more freedom with the world as a market bar the U.K. whilst Manganeze Bronze left them selves with only the British Market to sell to. This was obviously part of the agreement when Geely bought 20% of the company.
The final straw for Manganeze Bronze happened when Geely could not offer a deal acceptable to Manganeze Bronze to refinance the company......The problem is Geely could have a new market for their cabs if the plant in Coventry was to close....London and the U.K. The place where the cabs began........Geely therefore have an incentive not to hand over the finance.
As for other investors....................Well who is likely to want to invest in this after the hole that Manganeze Bronze has dug the business into, by giving away too much of the market to Geely ?
The apparent short sightedness of Manganeze Bronze executives raises question marks as to what the long term plans for this business really were.......................
......................Unfortunately, this all looks like it may have been a master plan to move production of these cabs from Britain to China. May be I am wrong. But this type of thing has gone on all round the world in many different industries. It's resulted in many different industries moving from countries like the U.S. and the U.K., oversees...................Many of them had been bought in order to close them down ! Much of the finance comes from banks who probably don't always know what is being planned. But without any doubt, many of the banks often know exactly what is happening.
After the sale of part of the company to Geely, Manganeze Bronze sold the production plant in Coventry to a property company. Manganeze Bronze has been renting the building back since. This would raise question marks in many people's eyes as to whether Manganeze Bronze was seriously continuing long term interests of production of the cabs in the U.K.
Although selling off the plant may have short term benefits to Manganeze Bronze, such as cash flow the long term problems and added costs should have been predicted. The new owners of the plant are leasing the plant, obviously at a cost which the property under ownership by Manganeze Bronze would have been far lower.
Manganeze Bronze had been attempting to make a finance deal with Geely which would allow the Coventry plant to continue manufacturing.The company has just announced that it is going into administration, after a failure to negotiate a deal that was acceptable to Manganeze bronze.
..............................................................................
What is most significant about this is how predictable it all seems to be.........
From the day Geely began manufacturing the cabs, they became competition to Manganeze Bronze. In fact, unfair competition in that Geely had far more freedom with the world as a market bar the U.K. whilst Manganeze Bronze left them selves with only the British Market to sell to. This was obviously part of the agreement when Geely bought 20% of the company.
The final straw for Manganeze Bronze happened when Geely could not offer a deal acceptable to Manganeze Bronze to refinance the company......The problem is Geely could have a new market for their cabs if the plant in Coventry was to close....London and the U.K. The place where the cabs began........Geely therefore have an incentive not to hand over the finance.
As for other investors....................Well who is likely to want to invest in this after the hole that Manganeze Bronze has dug the business into, by giving away too much of the market to Geely ?
The apparent short sightedness of Manganeze Bronze executives raises question marks as to what the long term plans for this business really were.......................
......................Unfortunately, this all looks like it may have been a master plan to move production of these cabs from Britain to China. May be I am wrong. But this type of thing has gone on all round the world in many different industries. It's resulted in many different industries moving from countries like the U.S. and the U.K., oversees...................Many of them had been bought in order to close them down ! Much of the finance comes from banks who probably don't always know what is being planned. But without any doubt, many of the banks often know exactly what is happening.
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Well thats solved that problem ....not!
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