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TVR set to announce plant plans

TVR will next week announce plans for production in mainland Europe and investment in a new model range.

Nikolai Smolensky has booked a room at a hotel in London’s Mayfair for a press event to reveal details of the relaunch of TVR Motors, which he bought in 2004.

Smolensky is believed to have signed a contract with Bertone for TVRs to be built at its Italy plant.

Blackpool Automotive Ltd, created last June to build TVRs, was sold to unnamed shareholders, who placed it in the hands of receivers in late December.

As a result, Smolensky, who still owns the TVR brand, will have an opportunity to write off large debts. In 2005, TVR lost £11.8m.

TVR Power, supplier of parts and spares to dealers and owners, has been acquired by its managers in an MBO.

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