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Stadco signs contract with Nanjing Automobile Corporation (UK)

Stadco Ltd, part of the publicly listed Acertec Plc announced today that it has signed a contract with Nanjing Automobile Corporation (UK) Ltd ("NAC") to transfer the production and assembly equipment for the construction of the body of the MGTF sports car from its facility in Coventry to NAC's plant in Longbridge. Stadco will install the equipment and will manage the relaunch of body production in Longbridge for NAC with full production expected to be achieved in mid-2007.

This contract may lead to further long term cooperation between Stadco and NAC in Longbridge.

Andrew Morriss, Stadco's MD, commenting on the deal said: "It is very satisfying to see automotive production returning to Longbridge and for Stadco to be able to participate in the renaissance of the MG brand."

John Sword, CEO of Acertec, Stadco's recently floated parent company, added: "We believe that this transaction is an endorsement of Stadco's strong position in automotive body manufacturing. Whilst the financial benefit for Acertec from this transaction will be modest, there is the potential for growth if there is a good market reception for the relaunched MG."

Stadco Automotive media enquiries

Martin Hayes/Marco Ferrari, Automotive PR +44 (0) 207 494 8050 mhayes@automotivepr.com/mferrari@automotivepr.com