Midas Cars - New Ownership

New Ownership

The rights to the car were purchased in 1990 by Pastiche Cars of Rotherham, Yorkshire who relaunched the range and made a handful of convertibles before the receivers were called in again in 1991 and sold the Gold Convertible on to GTM Cars of Sutton Bonnington, Nottinghamshire. GTM added a series of changes including Hydragas suspension and a hardtop. The range continued to develop with, in 1995 a new 2+2 coupé based on the K-Series engined Metro and Rover 100 models.

The moulds of the Gold coupe were sold to Berlin, Germany by GTM in 1990 where they were used for an unemployment project. In the meantime the old Mini based Midas had reappeared being made by Midtech cars for a short time.

In 2001 the Midas changed hands again when GTM sold it to a new Midas Cars Ltd based in Redditch, West Midlands. The range now consisted of the Coupé, renamed the Cortez, and a K-Series powered convertible named the Excelsior. Although the cars were well received the company went into liquidation in 2003.

A new company, Alternative Cars Ltd was set up in 2003 and in 2004 restarted production of kit form versions of the Gold Convertible, Cortez and Excelsior based in a small workshop unit at Clanfield, Oxfordshire. In 2007 the Midas Owners Club rediscovered the Gold coupe moulds in Germany and bought them and were imported back to England.

Read more about this topic:  Midas Cars

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