Word: powertrains
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Dates: during 2001-2001
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...year loan. So far, the firm has received roughly two-thirds of that money, with the final installment due next May. On top of that, BMW and Rover recently settled an accounting dispute by having the Germans hand over another $92 million, as well as ownership of the Powertrain engine plant at Longbridge. "Those payments are keeping them alive. After next year, they'll be on their own. And it's tough to survive as a mainstream car manufacturer when most of your cars are not new," says Jim Collins, an auto analyst at UBS Warburg, noting that Rover...
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