Tuesday, February 27, 2007

Bizarre twist in TVR saga

Russian business tycoon Nikolai Smolensky has re-acquired the Blackpool-based sports car firm TVR.

Smolensky bought the assets of the company from the administrators, having sold them just before Christmas 2006 to avoid the hassle of redundancy payments.

Now, the firm is back in Smolensky's hands and it's thought he still wants to forge ahead with building a new range of cars.

However, the notorious plutocrat is considering taking the car's production abroad, possibly to Italy, where specialist coachbuilder Bertone would be responsible for building the vehicles.

The deal has been condemned by the Trade and General Workers' Union (T&G). "It's abysmal that the previous owner, who allowed the company to descend into administration, is now the owner once again," said a T&G spokesman.

© Source: article on topgear
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