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Wednesday, June 09, 2010

300th post: ARTICLE: Proton: LOTUS NOT FOR SALE

Proton: Lotus not for sale at this point in time!

With some reports claiming that Proton will offload 40% of wholly-owned subsidiary Lotus to the British brand’s management team, Proton Holdings Bhd has reiterated that Lotus Group International Ltd is not for sale at this point in time. The national carmaker said this in a filing to Bursa Malaysia.

Proton said that it had over the years received several unsolicited offers for a stake in Lotus and had taken cognisance of such offers. The statement added that Lotus would continue to be a strategic entity within Proton and its technology catalyst. However, as a proactive business entity, it said Proton would continue to initiate and consider viable business opportunities and arrangements which would benefit and add value to the group’s interests.

Proton would make relevant announcements at an appropriate time, the statement added. Notice that Lotus is not for sale only “at this point in time” which could also mean that a sale might be considered later on. That’s just pure speculation of course, but should the engineering experts be on the market, there will be no shortage of takers.

Meanwhile, Lotus is set for a brand relaunch, which could be presented at the Paris Motor Show in October. The maker of the Elise and Evora has hired McCann Erickson Central to create a new brand identity, “web solutions” for both Lotus Cars and Lotus Engineering, support materials, a new brochure suite and support for the Paris launch.


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