MBH, Geely's JV to start production in late 2008

"The joint venture between China Geely Group and MBH will start its operation in the second half of next year. " British Manganese Bronze Holdings COO said in an interview recently in China.

Last October, Geely Group and the British Manganese Bronze Holdings signed a joint venture production agreement to co-develop British TX4 Taxi.

The company currently has 470 employees. Between 2005 and 2006, it has a total annual production of 2,480 units taxis, turnover of 84 million pounds, and pre-tax profits of 3.7 million pounds.

Currently, the taxis produced are exported to more than 50 countries including the United States, Italy, South Africa, Nigeria; with prices ranging from 27,000 pounds to 33,000 pounds.

Share holders appeared to be optimistic about this promising joint venture. Since the joint venture announcement was made, the company stock price listed on the London Stock Exchange has soared from the original 2.5 pounds to 9.5 pounds.