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Geely buys British black cab maker Manganese Bronze for US$17.5 mil.

Reuters
February 2, 2013, 12:05 am TWN

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LONDON -- Chinese car maker Geely has bought Manganese Bronze, the maker of London's black taxis, for 11 million pounds (US$17.5 million), safeguarding jobs and production of the vehicles in Britain.

Manganese Bronze, whose taxis have been on British streets since 1948, went into administration last October, with about a third of its 300-strong workforce losing their jobs.

Geely, which already owned about a quarter of Manganese Bronze, on Friday said it had agreed a deal with administrator PricewaterhouseCoopers to buy “the business and principal assets” of the company.

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