Manganese Bronze Holdings Plc, Leading Manufacturer Of London Taxis, Announces That It Has Won A Substantial Order For London Taxis From The Republic

The agreement for 1,000 London 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 contract the Group has received for its London Taxi.

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.

International interest in the Shanghai-built TX4 has 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.

John Russell, Chief Executive of Manganese Bronze, 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."