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VWFS Australia backs AC buyers' Maltese move

British sports car manufacturer AC is back in business after being bought by a Malta-based consortium with backing from Volkswagen Financial Services Australia.

Driving forces behind the new company, AC Motor Holdings, are chairman and chief operating officer Alan Lubinksy, executive director James Smith, and chief technical officer John Owen, a former Lotus engineer.

Creditors of AC, the producer of the legendary AC Cobra family of sports cars, agreed to a financial restructuring in June following transfer of production from Weybridge to premises in Frimley.

Development and build of AC's aluminium-bodied cars, like the AC 427 Mk III will remain at the Surrey plant while assembly of carbon fibre models, including the entry level CRS and Mamba coupe, will switch to a new facility in Malta. The move is expected to open up new markets for AC, particularly in Australasia.

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