03 March 2011

British firm wins £16m Azerbaijan order for its Chinese built taxis

The new order of global manufacturing was amply demonstrated today (3 March) with the announcement that Manganese Bronze, the leading manufacturer of the distinctive London taxi, had won an order worth more than £16m for its TX4 London taxis from the Republic of Azerbaijan.

A new private company, the Baku Taxi Company, has been established to develop a programme originally announced by the Transport Ministry of Azerbaijan to update the taxi fleet in the capital with the group's TX4 London Taxis.

The agreement for 1,000 taxis in 2011, to be supplied by Shanghai LTI (SLTI), the Group's joint venture with Chinese car manufacturer Geely Automobile Holdings Limited (Geely), is the single largest taxi contract the Group has. The first shipment of 100 vehicles is scheduled for the end of April. The balance of the order is expected to be built and shipped by the end of November 2011. The total value of the order is around $27 million (£16.6m).

Manganese Bronze said international interest in the Shanghai-built TX4 had increased in the first two months of 2011. In addition to the order from Azerbaijan, 180 vehicles have been ordered from a number of markets including France, Saudi Arabia, Kuwait and Italy. International sales of the Shanghai-built TX4 were 226 in 2010.

Chief executive John Russell said: "We are delighted to win this order which is the culmination of considerable effort by the teams in Manganese Bronze and SLTI. The order demonstrates the potential of our partnership with Geely and the appeal of the London taxi worldwide."

Ken Hurst

Supporting Information

Manganese Broms Holdings plc

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