Jobs axed as Triumph moves mass production to Thailand
Up to 50 jobs could be axed after Triumph Motorcycles boss Nick Bloor unveiled plans to relocate the company’s mass production facilities to Thailand.
The news comes after the firm announced a joint venture with Bajaj Auto India which it said would enable it to gain a stronger foothold in crucial Asian markets.
It is understood that the iconic brand’s Hinckley production site will now become a global research and development centre. 20 jobs are likely to be created as a result.
In a statement, Bloor reiterated the firm’s ambition to make further inroads into the Asian marketplace but noted that UK jobs were likely to go in the wake of the Thai move.
He said: “We want to maximise the growth opportunity for the brand globally, particularly in the Asian markets.
“This is why we are increasing our design resources here in the UK, and focusing our mass production capabilities in Thailand.
“There will still be manufacturing capability in the UK but the role of our facility in Hinckley will be reconfigured to enable us to create a more flexible and high-value capability.
“The move to a more specialist production facility does mean, however, that there will be between 40 and 50 redundancies from the company’s manufacturing workforce in the UK.”
The company reported rip-roaring financial results in December, racking up pre-tax profits of £9.5 million and posting a £26.8 million increase in its global revenues, which peaked at £529.5 million last year.