D
David Chapman
Guest
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<font face="Arial" size="2">It's just been announced that Rover have called in the receivers this evening and are now in administration. Not sure what the US equivalent is but it is beyond Chapter 11 as there is normally no way back. The engine division will probably survive in some form as the product is used by Lotus and Morgan but no more Rover or MG cars.The new mini is not affected as that is owned by BMW.</font>
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<font face="Arial" size="2">Of course Rover has been a bit wobbly for years, it was renamed from British Leyland about 5 years ago. British Leyland was formed around 1970 when Triumph, Austin, Morris, Mini, MGand a few others were nationalised by the government. </font>
<font face="Arial" size="2">Rovers problem has been lack of product investment with the result that the cars were not selling. They were trying to merge with a Chinese company which is where Rover saw it's future but the Chinese walked away today as there was too muchdebt.It is estimated that something like 6000 jobs will be lost straight away and at least the same again from service companies.</font>
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<font face="Arial" size="2">Relating to Amphicar - parts supply will not be affected as the Triumph suppliers were split from the new car company a while ago, also all the archive stuff has been moved to an independent owned museum, stilla sad day though.</font>
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<font face="Arial" size="2">David Chapman in the UK</font>
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<font face="Arial" size="2">It's just been announced that Rover have called in the receivers this evening and are now in administration. Not sure what the US equivalent is but it is beyond Chapter 11 as there is normally no way back. The engine division will probably survive in some form as the product is used by Lotus and Morgan but no more Rover or MG cars.The new mini is not affected as that is owned by BMW.</font>
<font face="Arial" size="2"></font>
<font face="Arial" size="2">Of course Rover has been a bit wobbly for years, it was renamed from British Leyland about 5 years ago. British Leyland was formed around 1970 when Triumph, Austin, Morris, Mini, MGand a few others were nationalised by the government. </font>
<font face="Arial" size="2">Rovers problem has been lack of product investment with the result that the cars were not selling. They were trying to merge with a Chinese company which is where Rover saw it's future but the Chinese walked away today as there was too muchdebt.It is estimated that something like 6000 jobs will be lost straight away and at least the same again from service companies.</font>
<font face="Arial" size="2"></font>
<font face="Arial" size="2">Relating to Amphicar - parts supply will not be affected as the Triumph suppliers were split from the new car company a while ago, also all the archive stuff has been moved to an independent owned museum, stilla sad day though.</font>
<font face="Arial" size="2"></font>
<font face="Arial" size="2">David Chapman in the UK</font>
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