Here at Quotesearcher we have been keeping you up to date with information concerning the taxi manufacturer LTI, who manufacture the iconic black taxi cab which is now practically a part of the Great British landscape. Last year the company went into administration, showing that the economic recession has affected the taxi industry greatly, including manufacturers, taxi drivers, and taxi insurance providers.
Luckily, after the company that owns LTI, Manganese Bronze Holdings, went into administration last October, the Chinese car manufacturer Geely bought the company for £11.4 million just a few weeks later, and now they are planning on starting production of black cabs once more. This June, the company will take on over one hundred new members of staff in order to start manufacturing new black cabs in their production plant in Coventry, which will not only please the company’s owners but also the workers they originally had to let go.
Discussing the news, managing director of LTI, Peter Johansen said: “It’s exciting because it will pretty much double the size of our workforce. Customers are already responding to us being back in business. We’ve taken order for 200 vehicles to Saudi Arabia and another 200 to Australia.” Currently, workers at the plant are working on four hundred vehicles which were all recalled last year due to faults being found with the steering boxes, which was one of the final nails in the coffin for the company in 2012, along with poor sales and turnover.
Soon however, the company will be ordering new parts and recruiting their new members of staff, meaning that the black cab will once more return to the UK market. Roger Maddison from the union Unite said it was “obviously good news” that the production was restarting, and that: “When the plant went into administration a few months ago, we had the worry that it would never reopen again. Some of the workers who lost their jobs in October found employment elsewhere but we’d like to think that those who’d like to come back, that the new company would take them on again and bring their skills back in.”