Jensen rescued by British consortium

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The Independent Online
A MYSTERY buyer has stepped in to save Jensen, the troubled luxury car maker, from extinction.

The company, based in West Bromwich, went into liquidation in September. But yesterday Grant Thornton, the liquidator, announced that an anonymous British consortium had bought the business for an undisclosed sum.

Production of the pounds 100,000 Jensen Interceptor S4 EFI will continue, but the new owners plan to start manufacturing DIY products and household goods on the site next spring. The rescue will save the jobs of Jensen's 20 car workers and a further 15 to 20 employees will be taken on next year. The company, one of Britain's few remaining independent luxury car makers, produced its first car in 1926 and, in its heyday, employed 3,000.

But with the onset of recession demand dried up for its latest model, the 5.9 litre S4, which does 16 miles to the gallon. Production is running at 12 a year but David Heseltine, Jensen's general manager, said there were plans to increase this to up to 50.