Thornycroft acquires Newage Transmissions
A
Newage Transmissions product story
Edited by the Engineeringtalk editorial team
Jun 17, 2005
Coventry-based mechanical driveline equipment specialist Newage Transmissions has been acquired by Thornycroft (1862).
Coventry-based mechanical driveline equipment specialist Newage Transmissions has been acquired by Thornycroft (1862), a fast-growing organisation that draws on more than 100 years engineering excellence in the automotive and off highway equipment fields, as well as extensive interests in the construction, agricultural and ground care sectors.
Through the change of ownership, which takes place with immediate effect, Newage becomes a subsidiary company of Thornycroft (1862).
Commenting on the acquisition, Thornycroft's Andrew Ross said: "We are particularly excited at the prospect of Newage joining our business family, as we believe the company provides an excellent fit with our other operations, both in the UK and overseas".
"We have been very impressed with Newage's performance in terms of reducing manufacturing costs, its ongoing development of new products such as StepDrive, and continuing sales growth in tough international markets around the world".
"These achievements have been led by the senior management team of Clive Rayner and Mick Shortland".
"I am therefore pleased to confirm that Clive and Mick will both continue as directors; to be joined by an additional new director, Mark Bennett, who has considerable experience in the off-highway equipment market".
"Our emphasis is on developing Newage's existing strengths".
Thornycroft complements these with a combination of financial stability, industry expertise and a track record of international business success".
"Accordingly, it is very much business as usual for Newage, in order that we can continue to grow the business and realise the full potential of the company's skills, resources and operations over the coming months".
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