Friday, December 14, 2012

PwC administrators to London Taxi Company announce completion of steering fix to recalled vehicles

For immediate release
14 December 2012

PwC administrators to London Taxi Company announce completion of steering fix to recalled vehicles

The administrators of Manganese Bronze Holdings are pleased to announce that all of the 401 vehicles recovered as part of the taxi recall have been fixed and are back on the road.

The joint administrators are now commencing the second phase of the fix programme. Over 600 largely new and unregistered vehicles, which have come off the production line in Coventry, will see the same new steering replacement system fitted.

This phase of work will be completed at a faster rate than the first as the majority of vehicles are at a single location within a secure compound. The administrators expect that the second phase of the fix will be completed by late February, which will conclude the replacement programme for all steering boxes.

The 12 production employees laid off from the Coventry plant at the end of October have now returned back into full time employment to assist with the ongoing operations of the business.

The administrators remain in advanced, positive negotiations with all bidders that submitted offers in the second round. The deadline for second round bids fell on Friday 7 December and the administrators are currently evaluating offers. Discussions are likely to be ongoing through next week and into the Christmas holiday period.

Matthew Hammond, PwC partner and joint administrator, said:

“I am delighted that all the taxis are now repaired and back on the road. I want to thank the company's employees who have been part of a massive effort to get all the vehicles repaired. They have worked extremely hard to ensure the affected taxis were returned to their drivers as quickly as possible and back on the road before Christmas. It’s been a tough time for all those affected, so it’s pleasing to have completed this phase of works on schedule.

“Throughout this process we have worked closely with the Mayor and Transport for London to provide daily updates on the repairs. Our key suppliers have been enormously helpful and rallied to the cause of helping get the cabs back on the road. There’s a great deal of goodwill towards this iconic vehicle and we are all committed to securing the best outcome for the company. Although it's too early to say definitively, we are hopeful that we will sell the business as a going concern

“The ongoing support of the group’s management team, employees and unions has been unwavering and very welcome.”

Well that's all very cosy and nice.

So now, what do you intend to do about the thousands of taxi drivers, who have laid out over £30,000 and now find their Chinese vehicle, fitted with Chinese components, with no warranty?

Is the Goodwill policy just all smoke and mirrors?
Perhaps we should publish a list of drivers who have been told by LTI agency garages "Sorry that's not covered by our goodwill policy" and explain what they have been turned down for.

Who in their right mind is going to purchase one of these new vehicles with no warranty.
Just how cheap will these vehicles be sold off?

Or will they be exported?

Wonder what steering boxes were fitted to the 2000 Geely Taxis sold to Baku?
Perhaps we need to ask the Azerbaijan Trade Attaché.

Allegedly, there's no problem with Geely's 20% of the company.


Widow Twanky said...

I think they will go to fleets willing to take a chance.

If any musher lays out 30K plus on these, they need counselling!

What about existing and ongoing warranties?

I knmow a few drivers who have had the brush off. Still why cahnge 50 years of poor service.

Maybe TfL should buy them up?

That would be the best comedy double act ever!

What a pantomime.

Acnedriver said...

They may be able to sell them, with HUGE discounts, but who will finance them ??

Black Horse are already at considerable risk, they are unlikely to continue taking a chance.

PBCab said...

Les, nice to see you on here, I think they will only be able to rent or lease them direct so they take all the risk.

None of this is satisfactory, we need well made well priced alternatives that hopefully have british input.