This press release issued today from MG Rover:
MG ROVER HOLDINGS AND CHINA BRILLIANCE HOLDINGS DISCUSS MAJOR ALLIANCE
MG Rover and China Brilliance Holdings Co. Ltd (CBH), part of the Brilliance
Group, are in discussions relating to the formation of a wide-ranging
strategic alliance and co-operation agreement.
The scope of the proposed agreement does not involve a cross-equity
shareholding by the parties. The scale of the proposed technical and
commercial collaboration, however, includes the following areas:
a.. The formation of a ground-breaking co-operative arrangement for the
joint development of new models, for the mutual benefit of both companies.
b.. The manufacture of a range of vehicles in the UK and China (the worlds
fastest growing automotive market).
c.. The establishment of a joint engine strategy, which will see both
companies use each others engines.
d.. The establishment of a common component supplier base to maximise
economies of scale.
e.. The establishment of a joint research and development centre.
The proposed alliance represents an exclusive arrangement of this nature for
both parties in the UK and China. Several meetings have taken place but as
yet no formal decisions have been taken. Further announcements will be made
in due course.
Kim Tonry
Downers Grove, IL, USA
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