Archive : Rover Planning Bulgarian Venture

Carole Nash Classic Insurance Specialists

NEW YORK TIMES
COMPANY NEWS; Rover Planning Bulgarian Venture
Published: Saturday, April 18, 1992

Britain’s Rover Group, part of British Aerospace P.L.C., is planning a joint venture with the Bulgarian Defense Ministry to produce three types of vehicles in former military plants, a Government official said today.

Slaveyko Khadzhimitov, a senior Government economic expert, said Rover’s initial investment would be $20 million, rising to $120 million with the building of an assembly line for its Maestro car model. Rover would own 49 percent of the venture and the Bulgarian Defense Ministry and its subsidiary plants 25 percent. The remaining 26 percent would be offered to private Bulgarian companies. The plans are to assemble 46,000 Rover Maestro Clubman models and Land- Rovers and 8,000 pickup trucks a year in former arms factories. Rover would sell 50 percent of the output abroad.

Keith Adams

Keith Adams

Editor and creator AROnline at AROnline
Created www.austin-rover.co.uk in 2001 and built it up to become the world's foremost reference source for all things BMC, Leyland and Rover Group, before renaming it AROnline in 2007.

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.
Keith Adams

Latest posts by Keith Adams (see all)

Be the first to comment

Leave a Reply

Your email address will not be published.


*