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Old 28th July 2004, 00:01   #1
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Tuesday 27 July 2004
TVR HOLDING STATEMENT

We can confirm that a 100% shareholding in UK car-maker TVR has been purchased today. The new owner is Nikolai Smolenski.

Plans for the future are to continue trading, invest heavily in new technology and production methods, and hence enhance the TVR brand to become a global player.

There will be no large-scale restructuring and new managerial appointments will be made in due course. Peter Wheeler, previous owner, will remain on board as a senior consultant.

Link http://www.tvr-eng.co.uk/news_new_owner.htm


I feel sad abt it!!
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Old 28th July 2004, 03:28   #2
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Quote[/b] (Stratos @ July 27 2004,22:31)]I feel sad abt it!!
I too. Britain's last home owned car manufacturing company being sold and that too, to a Russian! Still, I think TVR will remain like Lotus and Lamborghini - bought by many outsiders, but, still continued making great cars. Hope the don't move the factory from Blackpool to Vladivostok!
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Old 28th July 2004, 10:20   #3
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Russians seem to have the cash. Knowing Peter wheeler, he would have got an agreement on which direction the company goes. Peter Wheeler was very much hands on - there's an anecdote that his pet dog, Ned, bit a portion of the front end of a phone model off, it looks even better so they adopted Neds design !
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Old 28th July 2004, 10:42   #4
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check out the article

http://news.ft.com/servlet....1727085

TVR, the British maker of wildly styled and fiendishly fast cars, has been sold to Nikolai Smolensky, 23, one of Russia's youngest millionaires and the son of a controversial tycoon whose banking empire collapsed during the 1998 financial crisis.


Mr Smolensky's father, Alexander, was one of the oligarchs who bankrolled the re-election campaign of former president Boris Yeltsin in 1996.

He was accused of shifting assets into other companies while leaving depositors in his SBS Agro bank with nothing after its bankruptcy. But he was never found guilty, denies any wrongdoing and later launched another bank, OVK.

TVR's 400-strong workforce were told on Tuesday that Nikolai Smolensky planned a substantial investment to take the Blackpool company into North America and other global markets.

Neither side would say how much Mr Smolensky has paid for a company whose giant-killing reputation exceeds its output of about 1,000 cars a year. Its last published accounts show a profit of about £400,000 in 2002.

TVR's employees had known that Peter Wheeler, a former North Sea oil engineer who bought the company 23 years ago, had been considering selling and had hoped it would go to an enthusiast. The new owner appears to fit the bill. Marketing director Ben Samuelson said: "He's a mad keen motor racing enthusiast who's driven loads of TVRs."

TVR fans will be relieved that Mr Wheeler will be staying on to oversee styling and engineering. He and his deceased spaniel, Ned, have become industry legends: Mr Wheeler for styling the best-selling TVR Tuscan on the back of a Marlboro cigarette pack; Ned for biting a chunk out of a foam model prototype, creating what became the front light apertures of the TVR Chimaera.
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Old 28th July 2004, 11:35   #5
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Quote[/b] (ajmat @ July 28 2004,09:12)]Mr Wheeler for styling the best-selling TVR Tuscan on the back of a Marlboro cigarette pack; Ned for biting a chunk out of a foam model prototype, creating what became the front light apertures of the TVR Chimaera.
Thats Amazing!!...didnt knew that ... Gr8 find Ajmat!

But I dont agree to this..that the guy who has bought it is a gr8 Automobile Enthusiast..so he fits in his new place...Important part is that he shud be able to handle the company properly! May be he will .. lets Hope!
Thank God! Peter Wheeler will be there to associate!!



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