Austin Rover has bought control of British Leyland Portugal. It is the company’s first overseas acquisition after more than 10 years of selling off or closing down factories and sales companies in Italy, Spain, Belgium, Austria, South Africa, Australia. and Scandinavia.
The move to be announcd in Lisbon today is further evidence of the state-owned car makers’ growing confidence and determination to rebuild overseas. Austin Rover’s shareholding in British Levland. Portugal has been increased from 20 to 95 per cent and the company has been renamed Austin Rover Portugal. The remaining shares are retained by Eminco and J J Goncalves who founded the company in 1972.
They will concentrate on retailing. Austin Rover regards Portugal as a car market with considerable potential, although it is one of the smallest in Europe with 78,000 sales a year.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.
Latest posts by Keith Adams (see all)
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