Geely Completes Manganese Bronze Takeover with 11.04M Pounds

After attracting worldwide attention on its acquisition of Swedish car brand Volvo two years ago, China's automaker Zhejiang Geely Holding Group Co., Ltd (Geely) finalized the acquisition for 11.04 million pounds of Manganese Bronze Holdings 100% stake on February 5. The acquisition also included all IPRs and other core assets.

Manganese Bronze is an iconic brand of London cabs. The acquisition includes not only the patents, trademarks and equipment but also Manganese Bronze's 48 percent stake in China joint venture that set up with Geely and Manganese Bronze's stock of unsold vehicles. The deal will ensure the continuation of this British car brand.

After the acquisition was completed, Geely would be likely to do more research and development in the field of mid-end vehicle platform and green car. With the help of Volvo and Manganese Bronzes' total IPRs, Geely would enjoy much more sound development on technology and brand.

According to the statistics, as of the end of 2012, Geely has filed 14,000 patent applications and owned over 8,000 domestic patents, more than 1000 of which are inventions, and obtained over 40 patents overseas. Moreover, Geely has been listed in the top 10 China's IPR and independent innovation brands. 

In 2012, Geely's domestic sales hit a record high with a cumulative 491,400 local-brand vehicles, up 13.6% while its overseas deliveries reached more than 101,000 units, up 165%, leading the sharpest sales growth for Chinese-branded vehicles in overseas market.

(China IP News)