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PostPosted: Fri Feb 13, 2004 6:49 pm 
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Directors interested in buying failed taxi maker

Directors of British taxi-maker Metrocab, which went into administration in January this year, are amongst several parties looking at buying the business, according to the Interchange news agency.

The Tamworth-based company, which makes purpose-built taxis and hackney carriages (a taxi meeting the very strict regulations for London's black cabs) has stopped production with the loss of around 100 jobs. Metrocab had been producing eight vehicles a week on average but that figure is believed to have dropped closer to five by the beginning of this year.

One of the potential buyers is understood to be a consortium of former Metrocab directors, led by Steve Ferris, the company's director of sales and marketing. They have put in a bid with the administrators to buy the company and the intellectual property rights.

Metrocab is owned by Kamal Siddiqi who was unavailable for comment.

A spokeswoman for the administrator, BDO Stoy Hayward, confirmed it was acting for Metrocab and that currently there is a Company Voluntary Arrangement (CVA) in operation. This is a means of reforming or refunding the business or, if this cannot be done, Metrocabs could be sold to any one of several interested parties.

A decision in its future should be known within a week.

Mark Fryer, financial director of Manganese Bronze, the parent company of Coventry-based purpose built black cabs manufacturer LTI, said his company was not interested in purchasing its rival.

"We have, nor ever will have any interest in acquiring the Metrocab brand or assets".
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Me, I wouldn't touch it with yours. :wink:

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PostPosted: Fri Feb 13, 2004 6:59 pm 
It's a wonder the administrators aren't fed up of going into this company.


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PostPosted: Sat Feb 14, 2004 2:37 am 
Magnese Bronze isnt allowed to buy its rival but needs them to stay in buisness.

some back handed assistance can be relied upon


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PostPosted: Sat Feb 14, 2004 6:09 pm 
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Joined: Thu Oct 02, 2003 4:18 pm
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metrocab must die if only to get rid of the absurd closed shop of the 25 ft LAs.LTI cannot be allowed to be the only supplier(there must be some laws against this.they were too expensive with slight competion, imagine none)even then they fail to make a profit


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PostPosted: Sun Feb 15, 2004 4:21 pm 
metrocab must die, sounds like the title of a film. :lol:

be a shame if it cant be ressurected even if only for the poor buggers have bought the vehicles in the past

captain cab


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PostPosted: Sun Feb 15, 2004 4:31 pm 
Anonymous wrote:
metrocab must die, sounds like the title of a film. :lol:

be a shame if it cant be ressurected even if only for the poor buggers have bought the vehicles in the past

captain cab


yes I aggree, no buisness must die, if it can be resurected it must be given a chance.
Yorkie


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PostPosted: Sun Feb 15, 2004 4:54 pm 
Sussex Man wrote:
Directors interested in buying failed taxi maker

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Me, I wouldn't touch it with yours. :wink:



What a contradiction from your previous post

Not long now !!! this way to Beachy Head :arrow: :arrow: :arrow:


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PostPosted: Sun Feb 15, 2004 6:28 pm 
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Well it's nice to know that your spell-checker working.

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