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MG Saviour?

Chapman Automotive Ltd is in the final stages of putting together a bid to purchase assets related to MG from the administrators of MG Rover Group Ltd and Powertrain Ltd.

12th May 2005

Finance for the bid - which relates only to the MG brand, the TF two-seater sports car and associated manufacturing equipment - is supported by a consortium of investors including an overseas vehicle manufacturer, a US-based investment fund and a wealthy entrepreneur.

The Chapman Automotive plan sees the revival of the MG TF model only and the transfer of its production from Longbridge to another facility in the West Midlands.

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