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John Towers appears before Commons Select Committee

MG Rover chairman John Towers is appearing before the Trade & Industry Select Committee today, opening a series of hearings involving UK car manufacturers.

Towers will be quizzed on the separation of assets from MG Rover by parent Phoenix Venture Holdings after media and unions voiced disquiet over various financial transactions within the group, which is also reported to be considering moving the Rover 75 line to Poland if its negotiations to acquire Daewoo-FSO's plant there come to fruition.

But Select Committee chairman Martin O'Neill is equally concerned to find out whether MG Rover will be able to continue as Britain's last domestically-owned car maker, as planned when Towers led the Phoenix consortium to buy the firm's assets from BMW for £10 four years ago.

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