Manganese Bronze Share Discussion Threads

[ezodisy] 21/10/2008 17:39

88 @ 169 UT which would explain the close.

[shanksaj] 21/10/2008 17:21

So, its 162p nearly all day, 10 seconds before the market closes its 161p, then it closes at 169p. MMs playing games before tomorrow's announcement? Or have there been sells all day and the last minute there's a buy?

[queeny2] 21/10/2008 10:55

My point was that no-one will buy them for a while at least, not that someone won't make a couple!

[kteis] 20/10/2008 16:55

Londoners could be hailing the first battery-powered black cabs in early 2009

[macansy77] 20/10/2008 13:53

"Working on new product developments, or on developing and introducing improvements to the current vehicle"

just a guess, but i reckon it might be more of the latter...!

[domwilliams] 20/10/2008 13:47

Fancy a job at LTI?

[cliffyburger] 20/10/2008 13:43

I firmly believe that MNGS is poised to 'do a Davenham'* when its latest results are revealed in the next two weeks or so.

Cliff

* this is 'doing a Davenham':


* and this is what it does to the share price:

[queeny2] 20/10/2008 11:29

Re electric taxis - I did a bit on this cos of Tanfield even before MNGS ran into the triple brick wall of taxi sales slowdown, Mercedes, and exploding engines, and it seemed given everything (Tanfield's cash position and zest for expansion, cabbie conservatism, cab performance, high capital cost, Uncle Tom Cobbley) that this was not a 2009 or even 2010 story.

Since then, in talking to cabbies about Mercedes and so on, it becomes even clearer how (understandably) utterly risk-averse they are when it comes to the machine they sit in. the concept of an early adopter is pretty foreign to them!

Quite apart from the idea of a jv between two struggling companies having the resources to break a blue sky new market.

[davidosh] 20/10/2008 09:26

They must be trying to give it a boost and some positive spin before the truly dire IMS that they cannot decide when to release !!

[verulamium] 20/10/2008 09:10

It's not an RNS is it? Just AFX trawling through the newspapers.

[shanksaj] 20/10/2008 09:06

Was the RNS really newsworthy?

[davidosh] 20/10/2008 08:56

The problem for the electric cabs has always been the distances you can go before needing a recharge....Many cabbies live tens of miles from London too so will need to use some of the capacity before getting a fare and will not want to be sitting around for an hour whilst recharging.

[shanksaj] 20/10/2008 08:39

Verulamium,

It would surely take very little extra electricity to produce a distinctive electric taxi noise for pedestrians.

Will taxi drivers buy a diesel Manganese Bronze taxi now this uncertainty has arisen? Can MB diesel owners expect a good level of maintenance going forward once the electrics are up and running, or will they get a diminished/trashy level of servicing pushing them towards buying an electric? This announcement might undermine the lifespan, and the secondhand value, of the current diesels.

[verulamium] 20/10/2008 08:22

There'll be massive dilution if this ever happens, it'll need a huge cash injection from Geely. As MNGS probably have little chance of survival without the cash, the Chinese can dictate the terms. The thought of virtually silent electric cabs must be pretty scary for London's pedestrians...

[davidosh] 20/10/2008 07:52

Looks like they have given up trying to solve the problems with the current engines and now going full tilt towards electric then. Is it an attempt at deflecting attention from the demise of the TX4 ?

[kteis] 20/10/2008 05:03

Geely pushes for electric black cabs


Geely, the Chinese carmaker that co-owns the company that produces black London taxis, has met UK government officials about bringing electric-powered cabs to the UK capital.

"One of our ideas is to convert London taxis [to electric cars]," Li Shufu, the company's chairman, told the Financial Times in an interview. "We are doing research on this project."

Geely owns about 23 per cent of Manganese Bronze, the UK-based producer of black London cabs, and 51 per cent of a Shanghai-based joint venture that will produce the cars in China starting in December.

[davidosh] 19/10/2008 19:07

It sounds like the Mann & Overton staff are under a lot of stress from disgruntled cabbies. They must be missing out on a lot of routine revenue from the normal servicing and warranty work that will not be carried out for the next three to six months.

The latest on the rework out late on Friday...


17th October, 2008

Since the previous update on the 3rd October, LTI and our dealer network have been working tirelessly to do everything necessary to conduct the recall work and get drivers back to work as quickly as possible.

Outside London we have worked with our dealers and licensing authorities to establish every vehicle that has been suspended throughout the UK. We have then created plans in conjunction with our dealers to provide the labour and parts necessary to target these vehicles and get them back into service as fast as possible. We continue to make good progress.

In London Mann & Overton have stopped carrying out normal service work and turned their entire workshop capacity over to the rework programme. We recognise that this puts a strain on the other LTI service outlets to absorb servicing and warranty repairs that would otherwise have been carried out in Brewery Road, and we would like to thank those affected for their understanding.

It has been decided that the most efficient work pattern is to operate two twelve hour shifts, five days a week. The throughput continues to improve as technicians become more familiar with the work involved and processes are improved to maximise the capacity.

It is understandable that frustration mounts for drivers whose vehicles have not been recalled yet, however LTI ask that they remain patient and can ensure them that we continue to revise and refine the rework process in an attempt to improve the speed of the rework.

LTI also recognise the efforts of the LTDA in London to match drivers up with vehicles available for sharing or renting. We would like to encourage drivers to continue with this activity, because as we complete recalls and return taxis to the road, this should then free up rental cabs for others.

We remain grateful for the cooperation and patience of those affected.



I wonder how many have actually been completed so far and back on the road. If it was a significant number they would have stated it so I presume it is still very few. They have cut the shifts to two and a five day rather than seven day week so the target will be about 40 per day when fully up to speed but the work is taking twice as long as first expected in the workshops. That is about six months to get all the TX4s completed and therefore unlikely that all those compulsory off the road will be back before Christmas

[cliffyburger] 17/10/2008 10:22

Thanks for the updates, davidosh. After closing my short on MNGS on Friday, I reopened it at the beginning of the week (oddly, rthak told me he did exactly the same thing!).

From thinking that MNGS would drop below £1, I'm now beginning seriously to consider the possibility that the company *could* go out of business entirely. Frankly, if there is any good news at all in the trading statement, it'll be an absolute miracle!

Cliff

[davidosh] 16/10/2008 23:02

This is Nothappy cabbie in Norwich...

In Norwich there are 3 - 56 reg TX4's(was 4 until I saw the light about 10 weeks ago! ).
5 - 07 plates ,2 - 57 plates.

Owners of 56 plates have been contacted by licencing to take them in for safety checks before being booked in for work to be carried out.

I was told tuesday at an LTI garage that all TX4's will have to be recalled having to modify heat shielding and fit fire extinguishing device.This will involve in removing of the body shell on some vehicles or the engine on others for the work to be carried out. They will require the cab for 2 days.(but most likely double that by accounts)

And if as some predict that lti does go to the wall like metrocab did....no modifications,no warranty,no compensation...all cost to the owners....

I got a 55 plate low mileage TX2 fitted with the upgrade chain to replace the TX4 and I have to say it drives superb,and its the quitest TX2 I have ever heard.
The TX4 is a bad cab I got out of it within 5 months leaving a very long list of faults behind me

In my short time of ownership of my TX4 I had....

New(so I thought) Radiator(actually turned out to be a recon one.....still better than Condors suggestion of putting in rad weld!)I think that was rad number 3.

A faulty gearbox that sometimes kicked in instantly sometimes not moving at all for a few seconds.(that was never fixed)

New header tank(so much heat under the bonnet it cracked)

New propshaft

Rear axle whine(never cured)

EGR valve replaced(no noise for a week then started again)

ABS warning light kept coming on(never cured)

Dash lights stayed on when ignition was turned off(put right 5 days later it started doing it again)

Cab shaked and vibrated at 65-70 mph(never cured)

Interior started falling apart.

Tyres wearing on outside(kept trying to track it but never could get it right)

There was more.....

I think the new problems are just the beginning as there is to much crammed close togeather under the bonnet and very little airflow getting in. Anyone whos got one knows how hot they get.


There are very strong rumours going around the trade that LTI are going out of business and the blogs carry numerous mentions probably as they all know the size of their claims and are worried they will not get paid and that the TX4 is now a doomed model.

[davidosh] 16/10/2008 22:48

A mention was made today by a cabbie that the licenced cab market for LTI vehicles will be more or less finished if Liverpool win their court case or if the Secretary of State makes his belated decision on the DDA on exactly what can be licensed as cabs. Does anyone have any info on these two cases ?

[shanksaj] 16/10/2008 19:42

Mr Angry Cabbie is happy :)))) ! Don't believe it?




But not for long...



:((((((((((((((((

[davidosh] 15/10/2008 16:50

The RNS two months ago said the IMS would be on the 22nd

RNS Number : 4730B
Manganese Bronze Hldgs PLC
18 August 2008

MANGANESE BRONZE HOLDINGS PLC

Interim Management Statement

18 August 2008

Manganese Bronze Holdings PLC will on Wednesday 22 October 2008 publish its interim management statement for the period 1 July to 22 October 2008.


The website claims the day before on the 21st (as you guys mentioned above)


The company verbally would not commit and say it will be at the end of the month due to various matters to be finalised ....Mmmmm


No wonder the cabbies get annoyed at not knowing what is going on with their cabs when they cannot even get an RNS date finalised from two months advance warning !!

[cliffyburger] 15/10/2008 15:11

Thanks, domwilliams. I've corrected post 594.