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Author Topic: Norton bought by Indian TVS  (Read 264 times)

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Offline dw1

Norton bought by Indian TVS
« on: April 17, 2020, 10:03:39 pm »
Another iconic British marque going to the shits.
Norton was bought by Indian company TVS for 19m Pounds.
Lets see what they do with it.
https://www.reuters.com/article/us-norton-motorcycles-m-a-tvs-motor/indias-tvs-motor-snaps-up-british-brand-norton-motorcycles-idUSKBN21Z2PJ
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Offline eberhard

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Re: Norton bought by Indian TVS
« Reply #1 on: April 17, 2020, 10:34:09 pm »
TVS acquires Norton Motorcycles for Rs 153 crore

17th Apr 2020 10:00 pm
TVS has acquired the legendary British motorcycle brand, Norton, for GBP 16 million (Rs 153 crore).
Firoze Irani - Autocar

TVS Motor Company has just announced that it has acquired Norton Motorcycles in an all-cash deal for a consideration of GBP 16 million (Rs 153 crore). The Indian two-wheeler giant has done so by acquiring certain assets of Norton Motorcycles (U.K.) Limited (which is in administration) through one of TVS Motorís overseas subsidiaries.

Commenting on the acquisition, Sudarshan Venu, joint managing director, TVS Motor Company said, "This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world and presents us with an immense opportunity to scale globally. This transaction is in line with our effort to cater to the aspirations of discerning motorcycle customers. We will extend our full support for Norton to regain its full glory in the international motorcycle landscape."

Venu further added, "Norton will continue to retain its distinctive identity with dedicated and specific business plans. TVS Motor will work closely with customers and employees in building the success and pre-eminence of the Norton Motorcycles brand and we look forward to growing together globally in the years to come."

TVS has also said that it is confident of the strong synergy between both the brands. This move will provide Norton Motorcycles its best opportunity in years for a strong resurgence and the British company can leverage TVS Motor Companyís global reach and supply chain capabilities to expand to new markets.
Norton has had a troubled history. Recently, insufficient cash flow is said to be one of the reasons why Norton Motorcycles had trouble fulfilling their order book. The company's previous owner, Stuart Garner, is also reportedly under investigation for a number of counts of fraud. While Norton's limited-edition V4 SS sold out rapidly despite the huge GBP 44,000 (Rs 40.88 lakh) asking price, the funding required to source parts and build these high-end motorcycles at the companyís Donington Hall factory wasnít there.



More than R1 000 000 for a bike. Iíll ma stick to BSA. Or maybe the price will drop once manufactured in the back streets of Calcutta.
eberhard
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Offline JMG

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Re: Norton bought by Indian TVS
« Reply #2 on: April 17, 2020, 10:45:32 pm »
TVS is maybe a better deal than the brits, they build some nice bikes, in fact I stand to be corrected but the bmw 310ís engine is from tvs
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