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Came with the admonition: Not an April Fools
https://uk.news.yahoo.com/050407/325/ffv1r.html
Thursday April 7, 01:36 PM
MG Rover suspends production
LONDON (Reuters) - Struggling carmaker MG Rover has suspended production due to
component supply problems as it battles to secure a partnership deal with
China's largest automaker vital for its survival.
"Given the amount of negative media reports this week it is no surprise that we
have suffered a few isolated component supply problems," a MG Rover spokesman
said on Thursday.
"For this reason we have temporarily suspended production."
The spokesman said MG Rover hoped to have production back up "as soon as
possible".
MG Rover was still waiting on Thursday for the government to decide whether it
would grant a loan crucial to securing a partnership deal with China's Shanghai
Automotive Industry Corp (SAIC).
SAIC is seeking guarantees MG Rover's holding company Phoenix Venture Holdings
can keep the company solvent for the next two years. The government loan may
help it achieve that.
MG Rover has denied reports it will run out of money by the end of this week.
MG Rover's future and 6,000 jobs at its Longbridge plant in central England
hinge on securing an alliance with SAIC to produce cars in Britain and China.
MG Rover, a former British icon dating back to 1905, was sold to Germany's BMW
AG in the 1990s before returning to British hands when it was sold to Phoenix
four years ago. /ubbthreads/images/graemlins/rolleyes.gif
https://uk.news.yahoo.com/050407/325/ffv1r.html
Thursday April 7, 01:36 PM
MG Rover suspends production
LONDON (Reuters) - Struggling carmaker MG Rover has suspended production due to
component supply problems as it battles to secure a partnership deal with
China's largest automaker vital for its survival.
"Given the amount of negative media reports this week it is no surprise that we
have suffered a few isolated component supply problems," a MG Rover spokesman
said on Thursday.
"For this reason we have temporarily suspended production."
The spokesman said MG Rover hoped to have production back up "as soon as
possible".
MG Rover was still waiting on Thursday for the government to decide whether it
would grant a loan crucial to securing a partnership deal with China's Shanghai
Automotive Industry Corp (SAIC).
SAIC is seeking guarantees MG Rover's holding company Phoenix Venture Holdings
can keep the company solvent for the next two years. The government loan may
help it achieve that.
MG Rover has denied reports it will run out of money by the end of this week.
MG Rover's future and 6,000 jobs at its Longbridge plant in central England
hinge on securing an alliance with SAIC to produce cars in Britain and China.
MG Rover, a former British icon dating back to 1905, was sold to Germany's BMW
AG in the 1990s before returning to British hands when it was sold to Phoenix
four years ago. /ubbthreads/images/graemlins/rolleyes.gif