News:

MAJOR forum upgrade Feb 17.  Let me know if you have problems

Main Menu

Indians Buy Norton

Started by Biketographer, April 21, 2020, 06:34:17 AM

0 Members and 1 Guest are viewing this topic.

Biketographer

SINGAPORE, April 20, 2020 /PRNewswire/ -- TVS Motor Company, a reputed manufacturer of two-wheelers and three- wheelers in the world, yesterday announced the successful acquisition of Britain's most iconic sporting motorcycle, "Norton", in an all-cash deal for a consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration) through one of TVS Motor's overseas subsidiaries. This will be one of the most interesting acquisitions of a storied motorcycle maker in recent times and will reflect TVS Motor Company's and India's rapidly rising prominence in the international two-wheeler market.

Founded by James Lansdowne Norton, in Birmingham, in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time and is one of the most emotive marques today. Since the 20th century, Norton Motorcycles is renowned for their classic models and eclectic range of luxury motorcycles ranging from authentic retro classic reboots of the famous Commando to their  contemporary 200 bhp, 1200cc V4 super-bikes.


Commenting on the acquisition, Mr. 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."


Mr. Sudarshan 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 Motor Company is excited about the existing and upcoming products at Norton Motorcycles  including Commando, Dominator and V4 RR. Confident of the  strong  synergy  between  both  the  brands, we believe that Norton Motorcycles can leverage TVS Motor Company's  global  reach  and  supply chain capabilities to expand to new markets.


The acquisition was undertaken under the guidance of financial advisors, Rothschild and Co, and legal advice for the transaction was provided by Khaitan & Co, and Slaughter and May.


About TVS Motor Company
TVS Motor Company is a reputed two and three-wheeler manufacturer and is the flagship company of the USD 8.5 billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100- year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and  sustainable  processes. We endeavour to deliver the most superior customer experience at all our touch  points across 60 countries. We are  the  only  two-wheeler  company  to  have  received  the  prestigious  Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for five years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. For more information, please visit www.tvsmotor.com.


TVS Motor Company Limited, P.B. No. 4, Harita, Hosur – 635 109, Tamil Nadu, India.Tel: +91(4344) 276780

Website: www.tvsmotor.com Email: corporate@tvsmotor.com CIN: L35921TN1992PLC022845
Regd Off: Chaitanya, No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai – 600 006


Logo - https://photos.prnasia.com/prnh/20200420/2780795-1LOGO
SOURCE TVS Motor Company
CONTACT: Varghese M. Thomas, Vice President - Corporate Communication TVS Motor Company Limited, India, Vm.thomas@tvsmotor.com, +91(4344) 276780