Taken from ‘Professional Engineering’.
Reynolds, the historic British bike-frame maker, has been saved from extinction by a management buyout. The company was placed in receivership last month after problems at its US parent company Coyote.
But a deal by Keith Noronha, the previous managing director of Reynolds, has ensured the company’s survival. Noronha said the new company, to be known as Reynolds Cycle Technology (2000), will concentrate on high-performance materials such as aluminium-lithium alloy and butted titanium.
He said the company’s recent problems had been caused by under-investment in the early 90′s when it was owned by TI.
Reynolds Cycle Technology (2000) will have a workforce of 25 and will continue on the Tyseley site in Birmingham, where it has been since 1917.
Noronha said the company would try to expand exports to the US and middle east, export are expected to account for about 80% of the new company’s turnover.
P.S. Reynolds is 100% British again. If it is good enough for the export market, then why can’t we use more of it the UK as well?