Alchemy are venture capitalists that buy loss-making companies that they
think have a future, invest in them, turn them round, then sell them on as
going concerns. However they have never bitten off anything as big as Rover
before.
PaulH.
----- Original Message -----
From: Martin C. Jones <M.C.Jones@staffs.ac.uk>
To: <mgs@autox.team.net>
Sent: Thursday, March 16, 2000 3:26 PM
Subject: MG is reborn?
> BMW has today sold off the bits of Rover it doesn't want to
> a venture capital company. Below is a statement from that
> company. By the way the company in question has been
> involved in pubs and restaurants up to now. I don't want to
> get too cynical but.....
>
>
> Alchemy Partners is pleased to announce the
> impending launch of the MG Car Company following
> today's outline agreement with BMW to acquire Rover
> Group.
>
> The new company will continue with Rover's current
> model range of the 25, 45, 75, Old Mini and MGF will
> provide ongoing service to Rover's customers.
>
> The new company will focus on developing a state of
> the art British built product range worthy of the
> sporting heritage of the MG name.
>
> The product will use the latest developments in
> composites and aluminium body technology and will
> appeal to the motoring enthusiast well versed in the
> history of the marque going back to the former Morris
> Garages which started modifying standard Morris
> Cowleys in 1922.
>
> The MG Car Company will be synonymous with British
> technology and manufacturing know-how at its best,
> producing cars which are sought after in the medium
> volume segment of the market.
>
> The new company will be a responsible custodian of
> the MG brand and the entire current Rover model
> range investing in and taking its products to new levels
> of desirability.
>
> It is expected that the MG Car Company will employ a
> significant workforce and will rapidly develop into a
> selfstanding highly viable British car manufacturer.
>
>
>
> ====================================================
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