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The black taxi manufacturer LTI has been sold for £11.

4m to the Chinese car manufacturer Geely.

The company has acquired the "business and the principal assets" of Manganese Bronze Holdings (MBH), the manufacturer of the London cabs.

LTI in Coventry went into administration in October with 99 out of its 176 workers losing their jobs.

The deal, which it said will safeguard production in the UK, was agreed with administrators Pricewaterhouse Coopers.




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Iconic British Taxi Maker Sold Off To The Chinese

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