Friday 2nd September 2011

Spyker Supercars To Be Built At Browns Lane?

Well, if CPP can get the 'paperwork' sorted...

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CPP deal held up by Saab's tribulations

If you've missed all the news, drive tests and general excitement about the launch of the next generation Spyker supercar under new British ownership - don't worry, there hasn't been any.

In spite of our story back in Feb, when CPP announced its plan to acquire the supercar business from Spyker Cars NV, it's all gone a bit quiet since. A news release out today from CPP explains why:

"CPP Global Holdings, the British specialist automotive group, remains committed to finalising the acquisition of Spyker Cars, the Dutch luxury supercar brand, despite delays to the process. Four months after the Memorandum of Understanding was signed with Spyker's owner, now called Swedish Automobile N.V., CPP suspended negotiations in June 2011 until Swedish Automobile's refinancing plans had been implemented. However, CPP remains optimistic that a suitable asset deal can be concluded for both parties and remains committed to the Spyker brand."

Brendan O'Toole 'remains optimistic'

Brendan O'Toole, founder and co-owner of CPP, explains: "It is unfortunate that the negotiations have been delayed, but we understand the challenges facing Swedish Automobile. We were advised to suspend the purchase process on 24 June after discussions with Swedish Automobile's legal team, but remain fully committed to bringing Spyker to Coventry.

"At present, Spyker remains part of Swedish Automobile N.V., meaning that Spyker is therefore CPP's contract manufacturing customer, under an agreement that was signed in November 2010," O'Toole continues. "Since then, we have invested significant sums in the facilities, tooling and skilled craftsmen to build Spyker's flagship C8 Aileron supercar in Coventry and the entire production operation could be switched on within days of an agreement. I sincerely hope that the acquisition can be finalised soon and that we can begin delivering cars to customers."

So we're just waiting for Swedish Automobile to sort Saab out, then...

Meanwhile, CPP is also engaged in a plan to consolidate all its activities in a new facility on part of Jaguar's old Browns Lane site in Coventry - closed in 2005, when it was sold to property developers.

"This is a decisive moment in CPP's strategy to cement Coventry's reputation as a world-class centre of automotive excellence. Bringing together the group's various businesses and facilities within a single, purpose-built location is possibly the most exciting part of the entire plan," says O'Toole.

We agree, especially as CPP's recent acquisition strategy has included the take-over of Bowler Off Road Limited, and there's a deal in the works with Zagato.

[Eviltad]

Great news!