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New Owner for Newage
01 Jul 2005
Coventry UK based mechanical driveline equipment specialist Newage Transmissions Ltd , well known in the maritime sector for its PRM marine gearboxes, has been acquired by Cambridgeshire based Thornycroft (1862) Ltd . Newage has become a subsidiary company of Thornycroft (1862) Ltd with immediate effect.
Commenting on the acquisition, Thornycroft's Andrew Ross said, '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.
'Our emphasis is on developing Newage's existing strengths.
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.'
MJ Information No: 20813
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