CPP Global Holdings says it notes “with interest” today’s announcement from Swedish Automobile regarding the proposed sale of the Spyker business to
North Street Capital.

Brendan O’Toole, founder, managing director and co-owner of CPP, said: “Although
a February 2011 Memorandum of Understanding between CPP and Spyker’s owner,
Swedish Automobile, lapsed in June 2011, we have remained patient and
discussions have continued.  

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“Until we are informed Swedish Automobile is no longer willing to discuss the Spyker sale, we are still keen to progress our proposed acquisition.”

CPP says if Spyker is acquired by another entity, CPP would continue to offer its support in future engineering programmes, body and chassis production, and final trim and assembly of Spyker models.

CPP recently announced plans to consolidate its operations at a new Browns
Lane, Coventry engineering and production facility from 2014.  Whether or not
CPP concludes its acquisition of Spyker or remains the production and assembly
partner for Spyker under different ownership, CPP’s Browns Lane redevelopment
plans will be unaffected.  

The proposed new vehicle assembly facility – one of a number of CPP operations to be consolidated at the Browns Lane site from 2014 – will produce the fully-homologated road-going variant of the next generation all-terrain supercar, the Bowler EXR and the recently-announced new Jensen Interceptor.

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CPP is also in advanced stages of discussions regarding further ultra-low volume vehicle engineering and production projects.