+ Click to Enlarge RUSSIAN INVASION: First Maria Sharapova won Wimbledon and now a Russian has bought one of Britain's remaining independent car firms. This is TVR's latest model, the Tuscan 2; it costs £39 750, which adds up to a lot of roubles.

August 5, 2004

British sports car manufacturer TVR has announced that a Russian businessman has acquired total control of the business.

According to a statement posted on the company's website, the new owner is millionaire Nikolai Smolenski.

The press release said: "We can confirm that a 100% shareholding in UK carmaker TVR has been purchased."

Founded in 1947, TVR is one of the few privately owned car firms in Britain. Based in northwest England, it is a leading player in the manufacture of high-performance sports cars such as the Chimaera and the Tamora.

Smolenski (24) was a director of Russian bank OVK until last year when he sold off his shares in the company.

The statement quoted the young Smolenski as saying: "I am very enthusiastic about the potential for TVR and am grateful for the opportunity to become a car manufacturer.

"I have always been a fan of British car manufacturing and believe that the best automotive designers and engineers are in this country," he said.

TVR said that it would continue to invest in new technology and production methods.

Born in Moscow, Nikolai Smolenski is the son of Russian banker Alexander Smolenski.

The elder Smolenski is ranked 92 in the list of top 100 richest Russians compiled by the Russian edition of Forbes magazine recently, with a fortune totalling $230-million (about R1,426-billion). - Sapa-AFP