![[PHOTOS] 2013 Celebrity Couples](http://cdn.ph.upi.com/sblc/8741368788463/8/PHOTOS-2013-Celebrity-Couples.jpg "[PHOTOS] 2013 Celebrity Couples")
1.
Crude oil pushes toward $96
HANGZHOU, China, Feb. 2 (UPI) -- Chinese automaker Geely said it has purchased Manganese Bronze Holdings for $17.4 million and plans to revive the British niche automaker's operations.
MBH -- which is in administration, a British version of bankruptcy -- produces the iconic London Black Cab and owns 48 percent of a joint-manufacturing businesses in Shanghai, established with Geely in 2009.
China's official Xinhua news agency reported Saturday the Chinese automaker is buying MBH through Geely UK Limited, a subsidiary of Zhejiang Geely Holding Group.
The acquisition includes MBH's production facilities in Coventry, England.
Geely's plans include using as many current and former MBH employees as possible, the company said in a statement.
"We are delighted to have completed the acquisition of MBH's business and we are determined to restore the fortunes of this totemic marque which is known, recognized and admired all around the world," said Li Shufu, Zhejiang Geely Holding Group chairman.
|
|
|
|
|
|
| Additional Business News Stories | |
TEL AVIV, Israel, May 17 (UPI) --
Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.
|
TEL AVIV, Israel, May 17 (UPI) --
mid growing concerns about security threats from Syria and Iran, Israeli Prime Minister Binyamin Netanyahu has greatly reduced planned defense budget cuts.
|
Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
|
Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
|
| Stories | Photos | Comments |
View Caption
