Manganese Bronze Holdings
Defunct British manufacturer and holding company best known for producing London black cabs.
Last updated August 31, 2026
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Overview
Manganese Bronze Holdings plc was a British industrial holding company whose final operating business was the manufacture and distribution of London-style black taxis through its subsidiary LTI Limited. The company developed from a nineteenth-century producer of copper-and-manganese alloy ship propellers into a diversified engineering group, later becoming involved in light-alloy products, motorcycle manufacturing and automotive components before concentrating almost entirely on taxis. The business originated in the 1870s as P. M. Parsons and was incorporated in 1882. Its early products included Parsons Alloy propellers and other marine components made at factories beside the River Thames. During the First World War it manufactured shell cases under government contract, moving that production from London to Ipswich because of the risk of air raids. During the Second World War, the propeller operation was relocated to Birkenhead. Post-war expansion brought the company into light-alloy products and related engineering activities, including capabilities obtained through the 1959 acquisition of Redro Ltd. The company’s character changed substantially in the 1960s under the influence of Dennis Poore and his investment interests. It became involved in the British motorcycle industry and acquired Associated Motor Cycles in 1964, bringing the Norton, AJS and Matchless marques into its orbit. In 1973 it absorbed part of the Birmingham Small Arms Company rescue operation, including Carbodies, a Coventry manufacturer associated with London taxis. Carbodies became the foundation of the group’s later taxi business. The motorcycle interests were combined with Triumph-related operations to form Norton Villiers Triumph, while other former BSA components activities eventually became part of Manganese Bronze’s components division. Manganese Bronze also expanded along the taxi value chain. It acquired the London taxi dealer Mann & Overton in 1984, and in 1992 reorganised its taxi activities under LTI Limited, with divisions covering taxi production, dealership operations and taxi finance. The trading name London Taxis International was later changed to The London Taxi Company. The group sold its components division in 2003, leaving the taxi operation as its principal and ultimately sole business. It also attempted to diversify into technology-enabled taxi dispatch through Zingo Taxi, launched in 2003, but sold the service to Computer Cab in 2004 after limited driver adoption. International expansion centred on a partnership with Chinese automaker Geely. The companies announced a China-based taxi manufacturing joint venture in 2006, and the venture later produced prototypes of the TX4. Geely acquired a significant minority stake in Manganese Bronze, although a proposed increase to majority ownership in 2010 did not proceed. Production strategy subsequently shifted toward manufacturing taxi bodies and chassis in Shanghai while retaining Coventry assembly for vehicles destined for the United Kingdom. Manganese Bronze entered administration on 22 October 2012 after failing to obtain additional funding and after several years without profit. PwC, acting as administrator, announced substantial redundancies shortly afterward. In early 2013 Geely acquired the principal assets, manufacturing rights, unsold stock and dealerships of the London taxi business from the administrator through a newly established company, The London Taxi Corporation. This transaction preserved production of the London black cab in Coventry but ended Manganese Bronze Holdings as the operating corporate owner. The successor business traded as The London Taxi Company and was renamed London EV Company in 2017.
History
Manganese Bronze Holdings developed from a nineteenth-century London engineering concern into a diversified British industrial group and eventually a specialist taxi manufacturer. The enterprise originated in 1876 as P. M. Parsons and was incorporated in 1882. Its original business involved copper-and-manganese alloy ship propellers, produced at Thames-side factories in Deptford and later Millwall. The company expanded into alloy processing and, during the First World War, manufactured shell cases for the Ministry of Munitions. The shell-case operation was moved to Ipswich to reduce exposure to air raids. During the Second World War the propeller works relocated to Birkenhead. In the post-war period the company broadened its engineering base, including through the 1959 acquisition of Redro Ltd, which added light-alloy product capabilities and operations in Beverley. The company shortened its name to Manganese Bronze in 1962. A subsequent restructuring turned it into a holding company with operating subsidiaries involved in marine products, light alloys and related engineering activities. The group entered automotive and motorcycle engineering during the 1960s. An investment vehicle associated with Dennis Poore acquired the business, and in 1964 Manganese Bronze acquired Associated Motor Cycles, bringing the Norton, AJS and Matchless motorcycle marques into the group. In 1973 it absorbed part of the Birmingham Small Arms Company as part of a government-supported rescue. This transaction brought Carbodies, a Coventry-based maker of London taxis, into the group. The motorcycle interests were combined with Triumph-related operations to form Norton Villiers Triumph, while BSA components activities became part of Manganese Bronze’s components operations. Carbodies became increasingly central to the company. Manganese Bronze acquired the London taxi dealer Mann & Overton in 1984. In 1992 Carbodies Limited was renamed LTI Limited, with businesses covering taxi production, dealership and finance. The group used London Taxis International as its trading identity before adopting The London Taxi Company name in 2010. The sale of the components division in 2003 left the taxi operation as the company’s only operating division. The group also sold much of its property portfolio, including land beneath its Coventry manufacturing facility, during 2003 and 2004. The company briefly pursued a technology diversification strategy with Zingo Taxi, a mobile-location taxi-hailing system launched in 2003. Because adoption was limited, the service was sold to Computer Cab in 2004 for a nominal sum. The core business remained the production and sale of purpose-built London taxis, particularly the TX4. Manganese Bronze entered a strategic partnership with Geely in 2006 to manufacture taxis in China. Shareholders approved the joint venture in early 2007, and LTI Shanghai announced its first TX4 prototype in 2008. Geely later built a stake of approximately 20 percent in Manganese Bronze. A proposed transaction that would have increased Geely’s interest to 51 percent was not completed. Even without majority ownership, the relationship led to a revised production model in which bodies and chassis were to be manufactured in Shanghai, while taxis for the UK market continued to be assembled in Coventry. The company’s financial position deteriorated after 2007. It entered administration on 22 October 2012 after failing to obtain further funding. PwC subsequently announced that 156 of the company’s 274 UK employees were to be made redundant. In early 2013 Geely acquired the operating assets of the London taxi business from the administrator, including manufacturing rights, unsold inventory and dealerships. The assets were placed in The London Taxi Corporation, which resumed the taxi business in Coventry under The London Taxi Company name. This successor was renamed London EV Company in 2017. Manganese Bronze Holdings therefore ceased to exist as the operating owner of the London taxi business, although its principal industrial legacy continued through the successor company.
- 2013
Taxi business rescued by Geely
[1]Geely acquired the principal taxi-business assets and continued production through The London Taxi Corporation.
- 2012
Administration
[1]Manganese Bronze entered administration after failing to secure additional funding.
- 2010
Production strategy changes
[1]The company planned to move body and chassis production to Shanghai while preserving Coventry assembly for UK-market taxis.
- 2008
First LTI Shanghai TX4 prototype
[1]The Chinese joint venture announced production of its first TX4 taxi prototype.
- 2006
Geely joint venture announced
[1]Manganese Bronze and Geely announced a China-based joint venture for taxi manufacturing.
- 2003
Components division sold
[1]The sale of the components division left LTI Limited as Manganese Bronze’s sole operating division.
- 1992
Carbodies becomes LTI Limited
[1]Carbodies was renamed LTI Limited and integrated taxi manufacturing, dealership and finance activities.
- 1984
Mann & Overton acquisition
[1]The company acquired Mann & Overton, strengthening its position in London taxi distribution and retailing.
- 1973
Carbodies joins the group
[1]Manganese Bronze absorbed part of BSA’s operations, including Coventry taxi maker Carbodies.
- 1964
Acquisition of Associated Motor Cycles
[1]The group acquired Associated Motor Cycles, whose portfolio included Norton, AJS and Matchless.
Products and positioning
Specialist commercial-vehicle manufacturer focused on purpose-built taxis and the London black-cab market.
Purpose-built taxi
TX4
The TX4 was Manganese Bronze’s principal late-period taxi model and a modern continuation of the London black-cab tradition. It was produced for the specialist urban taxi market and became the main product associated with the company’s LTI and London Taxis International operations. Prototypes were also developed through the company’s Chinese joint venture with Geely. UK-market examples continued to be assembled in Coventry under the production arrangements announced in 2010.
Commercial vehicle
London black cab
The company’s defining product category was the purpose-built London taxi, commonly known as the London black cab. Through Carbodies and later LTI Limited, Manganese Bronze supplied vehicles designed specifically for licensed taxi use in London and related markets. The business combined vehicle manufacturing with dealership and finance operations, making the taxi more than a standalone vehicle product within the group.
Marine engineering · 1876
Marine propellers
The predecessor business began with alloy ship propellers made from copper-and-manganese materials. Marine engineering was the foundation of the company’s early industrial identity and remained part of its activities until the marine division was transferred to Stone-Platt in 1963.
Industrial components
Light-alloy and components products
Before concentrating on taxis, Manganese Bronze operated businesses making light-alloy products and other engineered components. These activities included capabilities obtained through Redro and former BSA components operations, including sintering, precision casting and metal powders. The components division was sold in 2003.
Marketing campaigns
- 2003Zingo Taxi
United Kingdom
Manganese Bronze launched Zingo Taxi as a mobile-location taxi-hailing service intended to modernise taxi booking and dispatch.
Outcome. Adoption remained limited, with about 1,100 London taxi drivers subscribing out of an estimated 21,000. The service was sold to Computer Cab in 2004 for a nominal amount.
Brand decisions
2013
Sale of the London taxi business to GeelyM&ABackground
The administrator sought a buyer capable of preserving production and employment in the London taxi business.
Action taken
Geely acquired the principal assets, manufacturing rights, unsold stock and dealerships and established The London Taxi Corporation.
Aftermath
Taxi assembly resumed in Coventry under the successor company, while Manganese Bronze Holdings ceased to be the operating owner.
2012
Entry into administrationOtherBackground
Manganese Bronze had not made a profit since 2007 and was unable to secure the additional funding required to continue as an independent company.
Action taken
The company entered administration on 22 October 2012, with PwC appointed as administrator.
Aftermath
PwC announced 156 UK redundancies from a workforce of 274, and the taxi business was subsequently sold to Geely.
2010
Shift of taxi body and chassis production to ShanghaiStrategyBackground
The company was attempting to reduce production costs and use the manufacturing capacity created through its Geely relationship.
Action taken
Manganese Bronze announced that taxi bodies and chassis would be produced in Shanghai, while UK-market taxis would continue to be assembled in Coventry.
Aftermath
The plan preserved a Coventry assembly presence but made the business more dependent on its Chinese manufacturing partnership.
2006
Formation of a Geely taxi-manufacturing joint ventureM&ABackground
Manganese Bronze sought international manufacturing scale and access to the Chinese automotive market.
Action taken
The company and Geely announced a China-based joint venture, later associated with LTI Shanghai.
Aftermath
The venture produced TX4 prototypes and contributed to a later shift of body and chassis production toward Shanghai.
2003
Exit from components manufacturingStrategyBackground
The group was narrowing its activities around the taxi business after operating as a diversified industrial holding company.
Action taken
Manganese Bronze sold its components division, leaving LTI Limited as its only operating division.
Aftermath
The company became increasingly dependent on London taxi manufacturing, dealership and related services.
Recent events
- 2013
Geely acquires London taxi business assets[1]
M&A
Geely acquired the principal assets, production rights, unsold stock and dealerships of the London taxi business and established The London Taxi Corporation.
- 2012
Manganese Bronze enters administration[1]
Bankruptcy
The company entered administration after failing to secure additional funding. PwC was appointed administrator.
- 2010
Taxi body and chassis production planned for Shanghai[1]
Other
Manganese Bronze announced plans to move production of taxi bodies and chassis to Shanghai while continuing UK-market assembly in Coventry.
- 2010
Proposed Geely investment increase abandoned[1]
M&A
Geely decided not to proceed with a proposed share placement that would have increased its stake to 51 percent.
- 2009
Geely becomes a significant minority shareholder[1]
M&A
Geely was reported to hold 6,085,000 ordinary shares, representing approximately 20 percent of Manganese Bronze’s issued share capital.
- 2008
First TX4 prototype produced by LTI Shanghai[1]
Product generation
The Chinese joint venture produced and announced its first TX4 taxi prototype.
- 2008
Manganese Bronze announces workforce reductions[1]
Other
The company announced 40 redundancies in response to the global economic downturn.
- 2006
Manganese Bronze and Geely announce Chinese taxi joint venture[1]
M&A
The British taxi manufacturer and Geely announced plans for a China-based joint venture to manufacture taxis.
- 2004
Zingo sold to Computer Cab after weak adoption[1]
Other
Manganese Bronze sold Zingo to Computer Cab for a nominal amount after only a small proportion of London taxi drivers had subscribed.
- 2003
Manganese Bronze launches Zingo taxi-hailing service[1]
Product launch
The company introduced Zingo, a taxi-hailing service based on mobile-location technology.
Sources1 sources
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