Newman Industries Ltd, Yate, Bristol.

Newman Industries Ltd, Yate, Bristol.

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Newman Industries Ltd, Yate, Bristol.
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Before Planet War II, Yate had an aircraft manufacturing sector (Parnall). In the course of Globe War II, Parnall specialized in producing gun turrets. A quantity of people had been killed in raids by the Luftwaffe on the factory in February and March 1941.

Electrical and Mechanical Engineers of Bristol

• 1923 Company founded.

• 1936 Public business established to acquire the organization of Newman Sons and Company Ltd, Yate, Bristol.

• 1938 Share problem to cover the expenditures involved in creating a new electric motor.

• 1944 Acquired Joseph Evans and Sons of Wolverhampton, pump manufacturers.

• 1945 Newman Industries primary organization included electrical motors up to 25 h.p., steel castings specially chains and bearings, moulds and ploughshares, and electrical switchgear.

• 1948 Assigned two Government surplus factories at Grantham which would be utilised for the manufacture of tractors.

• 1960 Newman Industries was productive in exporting fan motors to the U.S.A. as a result of adapting to the new U.S. requirements which had lately been revised.

• 1961 Companies of electric motors including specialised types such as flameproof, vertical hollow shaft and close-coupled pump machine tool rebuilders and elements electronic instruments. 1,500 staff.

• 1962 Acquired Higgs Motors of Birmingham.

• 1965 Orders for specialised motors from a variety of nations in the Far East, which includes 300h.p. explosion-proof motor for a refinery and hollow-shaft motors for deep properly pumps.

• 1965 Shortage of labour and duplication of ranges amongst companies was limiting Newman’s – rationalisation of the range of motors could double Newman’s production.

• 1965 Howell Electric Motors (USA) would import electric motors from Newman’s to replace a line produced at its Michigan plant, rebadging the motors, and also import Newman’s regular motors.

• 1970 Rates and Income Board report proposed limiting price tag increase on electric motors to 4%.

• 1971 Newman took more than Wheatley (Trailers) which was changing its name to West of England Securities.

• 1971 Talks with H. W. Lindop and Sons about taking an interest in the organization.

• 1972 Acquired interest in John Harper and Co.

• 1972 Troubles in machine tool business (Newman’s largest customer) caused surprise 1st half loss.

• Purchased Court Performs from Redman Heenan International.

• 1972 Transferred Court Works to H. W. Lindop in exchange for 39.five% of its shares.

• 1973 Appointments to 7 senior management positions]: ◦ Newman Controls

◦ Versatile Drives (Gilmans)

◦ Moore Reed

◦ Newman Foundries

◦ Newman Electric Motors

◦ Continental operations

◦ Newman Industries Inc (USA)

• 1973 Bid to take-more than John Harper and Co but in the end this failed due to greater offer from Duport.

• 1973 Leroy-Somer of France acquired 20% interest in Newman Electric Motors, Newman’s overseas sales arm (except USA).

• 1974 Manufacturing venture established with Cycle and Carriage Co of Singapore producing goods for Eastern hemisphere.

• 1974 Bid to obtain remainder of Lindop Holdings.

• 1974 Thomas Poole and Gladstone (TPG), a group with the same chairman as Newman’s, acquired 11.five% of Newman Industries with further purchases in following days.

• 1975 TPG proposed to sell quoted and unquoted investments and transfer some connected liabilities to Newman’s in exchange for money but would retain its holding of 26% of Newman’s but this was opposed by Angus Murray, a non-executive director and chairman of Redman Heenan. It was also proposed that the shareholding of yet another organization in TPG should be bought by Newman’s. Numerous meetings of shareholders took place just before the obtain of assets from TPG was approved and inquiries have been raised by disclosure guidelines relating to directors’s dealings. Some institutional shareholders continued to question the deal and an independent report was obtained from Schroders.

• 1976 Sold Moore Reed to Kode International.

• 1976 Acquired most of the shares in earthenware group Alfred Clough]. Bid for remaining shares that it did not currently personal in Agar Cross and Co for which extra shares had been issued.

• 1977 Lonrho bought 19.three% of the shares in Newman’s that had been held by TPG.

• 1977 Newman’s bid for the shares in Dover Engineering that it did not already own rights situation to spend for it.

• 1978 Supply for remaining shares in Avdel International, to be paid for by a rights issue. Failed to obtain Wood and Sons.

• 1978 Newman Industries Ltd acquired Dint Engineering Group.

• 1980 Two Directors of Newman Industries were discovered to have misled shareholders in relation to the 1975 acquire of assets from TPG fine and damages to be decided later. As a outcome the chairman was dismissed. Subsequently, on appeal, 4 of the 5 verdicts have been overturned. The auditors paid compensation for error in their valuation.

• 1980 London and European Group bought stake in Newman’s. Cycle and Carriage Co (Singapore) then offered to take a controlling interest in Newman’s, by producing a money injection.

• 1982 Shares suspended

• 1983 Shares relisted.

Supply Grace’s Guide

any info would be significantly appreciated ?

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