Torotrak buys Bolton engineering firm
ENGINEERING group Torotrak has bought a Bolton-based automotive components business.
Leyland-based company, which is developing innovative gearless traction drive system, paid £175,000 for Motorsport Components Ltd (MCL).
The firm’s biggest shareholders are Dennis Aldred and George Holt.
Torotrak said the deal gave it an in-house, high-precision manufacturing capability for components that do not require advanced surface engineering, and enables it to produce prototype machined components more quickly and accurately.
In a statement to the stock market the company said: “The business brings a small but highly skilled workforce and is profitable with a modest annualised turnover of £214,000.
“We expect this to figure to grow as MCL becomes an important element in our integrated future engineering services business. Relationships with MCL’s major customers, including Chevron Cars, will continue to be supported, and developed.”
In an interim management statement Torotrak said it was continuing to work with US-based Allison Transmission and an unnamed major European truck and bus manufacturer.
It is currently in talks with Allison about extending an exclusive licensing agreement beyond March 15.
