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Norton Motorcycles opens new Global Headquarters

By General Posts

TVS-owned Norton Motorcycles opens new Global Headquarters: 8,000 bikes to roll out every year
from https://www.financialexpress.com by Pradeep Shah

The new headquarters is creating over a hundred new high-skilled jobs and more in the coming years and will be able to build around 8,000 motorcycles a year.

Norton Motorcycles has announced the completion of its new global headquarters that includes state-of-the-art manufacturing capability and the company’s new global design and R&D hub as well. The new HQ is a display of significant commitment by TVS Motor Company in its partnership with Norton Motorcycles. Within just 18 months of acquiring the iconic British marque, TVS has overseen the creation of its world-class facility in Solihull, West Midlands, UK.

The new Norton leadership, together with TVS Motor Company, has conducted a wide-ranging review of Norton Motorcycles operations, resulting in new appointments and processes and these have been specifically in engineering, design, and manufacturing areas in order to ensure the highest quality standards, the company stated.

Moreover, the new headquarters is creating over a hundred new high-skilled jobs and more in the coming years and will be able to build around 8,000 motorcycles a year.

As part of the new manufacturing process, every single component of every new Norton bike will be evaluated in a new quality-testing laboratory to ensure the highest build quality. Moreover, the company says that within the laboratory are inspection rooms, testing areas including destruction testing, and a rolling road while a customer reception and showroom, service workshop, and office are also housed at the new HQ.

The Norton manufacturing facility has also been engineered to be highly sustainable and to minimize waste. The brand says that the build used numerous sustainable and rapid build techniques on the project, the components of which are almost 50% reconfigurable as a proportion of total construction cost – in order to increase special flexibility. The new facility is supported by the West Midlands Growth partnership, the UK Government, and is a great example of Anglo-Indian cooperation.

Former Jaguar Land Rover CEO to be Chairman of Norton motorcycles Parent Company TVS Motors

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by Enda Mullen-COV from https://www.coventrytelegraph.net

Former Jaguar Land Rover chief to take up new role at reborn motorcycle maker
News of Sir Ralf Speth’s appointment follows Norton Motorcycles’ move to Solihull.
In January Norton announced it is to move into the most advanced manufacturing facility in the brand’s 122-year history in Solihull.

Jaguar Land Rover’s former boss Sir Ralf Speth is to join the board of legendary motorbike maker Norton Motorcycles.

Sir Ralf, who stepped down as CEO of the Coventry car maker in September last year, is to become the chairman of Norton Motorcycles’ parent company, TVS Motor Company.

Sir Ralf will take up the role in January 2023.

CEO at Jaguar Land Rover for 11 years, Sir Ralf is hailed with transforming the company during his time at the helm.

He was the recipient of a knighthood from the Queen in 2018 for his contributions to British industry, and also named as a Fellow of the Royal Society in 2020 for his passion for science.

News of his appointment to Norton Motorcycles comes at a time as the company is being reborn under TVS Motor Company’s ownership.

The company is currently finalising work on construction of the new Highlands Road factory, which is expected to open by the end of this year.

John Russell, interim CEO of Norton Motorcycles, said: “We are truly delighted to welcome Sir Ralf to the TVS Motor Company family.

“We know that Sir Ralf is a tremendous leader and his accomplishments in the automotive industry speak volumes.

“This excellent appointment comes at a time when the Norton Motorcycles business is on a very positive trajectory but still with much work to do.

“We will soon be settled in our state-of-the-art new manufacturing base and the guidance of Sir Ralf will be important for us as a growing British business that has a strong legacy.”

by Janaki Jitchotvisut from https://www.rideapart.com

Norton Parent Company TVS Motors Welcomes New Chairman In 2023

Norton Motorcycles and parent company TVS Motor Company announced that they’re pleased to welcome a new Chairman of TVS’ Board of Directors as of January, 2023. His name is Sir Ralf Speth, and he’ll bring decades of auto industry experience to his new appointment.

Speth has a strong engineering background, which helped him lead Jaguar Land Rover for 11 years as its CEO. Under his leadership, the company brought the Jaguar I-PACE all-electric performance SUV from an idea into a fully engineered and designed reality.

Prior to his work with Jaguar Land Rover, Sir Ralf spent time with Ford Motor Company’s Premier Automotive Group, as well as BMW, which is where he first began his career. He has also served on the Tata Motors Board, as well as the Supervisory Board of Tata Sons Limited.

Thanks to his outstanding leadership skills and service to science, Sir Ralf has been recognized in multiple ways. According to his Royal Society biography, he has so far been twice honored by the British Empire for his services. In 2015, Sir Ralf was appointed Honorary Knight Commander of the British Empire. Just four years later, in 2019, he was made an Additional Knight Commander of the Most Excellent Order of the British Empire. He has also been a member of the Royal Academy of Engineering since 2014, and is also a professor at the University of Warwick.

This appointment comes as Norton Motorcycles, which is wholly owned by TVS Motor Company, continues construction on its new state-of-the-art manufacturing facility in Solihull. It is currently scheduled to open by the end of Q2 of 2021, and will form the central base from which all Norton Motorcycles operations occur.

“We are truly delighted to welcome Sir Ralf to the TVS Motor Company family,” said Norton Motorcycles interim CEO John Russell, in a statement.

“We know that Sir Ralf is a tremendous leader and his accomplishments in the automotive industry speak volumes. This excellent appointment comes at a time when the Norton Motorcycles business is on a very positive trajectory, but still with much work to do. We will soon be settled in our state-of-the-art new manufacturing base and the guidance of Sir Ralf will be important for us as a growing British business that has a strong legacy,” he concluded.

New top management at Norton Motorcycles announced

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from https://www.financialexpress.com

TVS announces new top management at Norton Motorcycles: 2021 V4SS to launch soon.

With TVS infusing multi-million-pound investments, the Solihull facility will be the most advanced and modern plant that Norton has operated out of in its 122-year-old history.

TVS Motor Company (TVS), owner of The Norton Motorcycle Co Ltd (Norton), today announced that Dr Robert Hentschel has been appointed as the Chief Executive Officer (CEO) and Vittorio Urciuoli as its Chief Technical Officer (CTO) of the historic Solihull-based motorcycle brand. Hentschel and Urciuoli will take up their new positions as John Russell steps down from his role as Interim CEO. Dr Robert Hentschel joins Norton from Valmet Automotive Holding GmbH & Co KG, where he has served as Managing Director since 2017.

Before that, he headed Ricardo Deutschland and Hentschel System and was also Director of Lotus Engineering. Vittorio Urciuoli’s former key roles within the global automotive industry include Director of URVI LTD, Head of Powertrain at Lotus Cars and Project Leader at Ferrari and Aprilia Racing.

TVS has created a plan for Norton to transform into the future. Along with the entire TVS team, I look forward to working together with them for the revitalisation of one of the world’s most storied brands. Under John’s tenure, with investment and support from TVS, Norton has returned to a firm footing and made marked improvements to engineering and product quality, which will be seen in the updated V4SS that will be launched soon. In addition, we have established a new, state-of-the-art global design, engineering, manufacturing and sales and marketing HQ in Solihull, Sudarshan Venu, Joint Managing Director of TVS Motors, said.

In January this year, Norton announced it would get back to work in full swing by March at its new facility at Solihull, Birmingham in the UK. The British manufacturer has moved its production base from its former headquarters at Donington Hall after its acquisition by TVS Motor Company in April last year.

With TVS infusing multi-million-pound investments, the Solihull facility will be the most advanced and modern plant that Norton has operated out of in its 122-year-old history. The production of the Commando Classic has also been resumed.

The V4SS will also be one of the first motorcycles to roll out as the company resumes operations. Limited to just 200 units, the V4SS boasts full carbon fibre bodywork contrasted by a bright finish on the frame and engine casing. It gets a single-sided swingarm and carbon fibre wheels. It is powered by a 1,200cc V4 engine that makes 200 bhp and 130 Nm of peak torque. Soon after the V4SS, the company is expected to unveil the updated V4RR as well.

Norton Motorcycles Head Of Design Takes Aim At Ducati

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by Bryan Campbell from https://www.forbes.com

Norton Motorcycles Head of Design Simon Skinner thinks the British brand has what it takes to go head-to-head with Ducati.

Admittedly, Norton taking aim at Ducati is a very, very bold aspiration. Considering the Norton name is just as synonymous with bankruptcy and financial turbulence as it is with beautiful motorcycles, you’d be forgiven for taking the current brand revival with a handful of salt. I spoke with a refreshingly candid Norton Motorcycles Head of Design Simon Skinner via video call, who said this time will be different. While there is an incredible amount of bias in that claim, this time around there’s evidence elsewhere to back it up.

Back in January 2020, Norton entered the UK equivalent of Chapter 11 bankruptcy. The following April, the British brand was purchased by the third-largest Indian motorcycle manufacturer, TVS Motors. Now Norton has a new temporary factory in Birmingham, UK, is on a hiring spree and as Skinner puts it, ”the shackles have come off, in terms of design and innovation.” If this sounds at all familiar, there are similar plotlines going on at Jaguar Land Rover with Tata and Volvo and Lotus via Geely. Success isn’t guaranteed, but having a potent resource like TVS certainly helps.

Speaking with Skinner, I wanted to hear just how Norton plans to not just take on Ducati and become its British equal.

Bryan Campbell: Is Norton looking to follow Ducati’s lead on creating an accessible entry point with a Scrambler-esque model paired with top-tier sportbikes?

Simon Skinner: Absolutely. We’ve already designed the 650cc parallel-twin range of motorcycles — the Atlas Nomad and the Ranger — and they are comparable to the Ducati Scrambler. Ours is probably a bit more modern, a bit more capable in terms of the geometry and weight of the bike. We have a slightly smaller engine with the 650cc compared to the 800cc of the Ducati, but it’s got the same power.

The bikes in the “lifestyle” class tend to be more lifestyle-ly than capable. Where the Ducatis are a little bit of both, with the Desert Sled leaning to the more capable end of the spectrum. The Norton Ranger is very similar to the Desert Sled in that way.

Campbell: Traditionally, Norton has been a small volume manufacturer. Is the focus of the new facility meant to buck that trend?

Skinner: Yes. I’m not allowed to get into the numbers, but TVS has already invested large sums in the business and the new facility in Birmingham, in the UK, is a temporary facility. It’s 75,000 square feet, but it’s still only temporary for 3-5 years while we find a more permanent home in the local area. TVS very much have volume aspirations not far off from the production numbers of Ducati. However, the current temporary facility can handle up to 7,000 bikes per year.

Campbell: In the past year, especially in the United States, ADV motorcycles and dual sports have taken off and part of that is due to what those bikes can offer at their price points. The bang-for-buck value is undeniable. If Norton is looking to capitalize on that rising tide, where will the brand’s bar for entry be?

Skinner: An Atlas Nomad is just under £10,000 and that’s our entry-level model. If we come down from that, only time will tell, but it’s usually depending on the volume we can achieve. Our volume will never be at the level of say, Honda, but to get the combination of luxury and volume we’re chasing, it’ll be somewhere near Ducati pricing. And I can’t see us dropping below that, at least not while we’re building the brand back up.

Campbell: Stepping away from the cold hard numbers for a bit. In terms of design, where is Norton pulling inspiration from?

Skinner: Norton, traditionally, is an innovative, cutting edge, modern company. Some people think Norton a classic company, but it’s not at all. The Norton Commando, when it was launched in 1968, was the fastest superbike in the world and the Manx chassis bikes dominated race tracks year after year. That’s all down to the technology and innovation that was used. That’s where Norton needs to be again.

So, from a design perspective, I’ve employed a diverse group of designers and created an environment where they can thrive. We take our inspiration from all over but we do look at the past — the design cues, the styling cues, the ethos behind the brand — where Norton’s tend to be low, sleek, have a strong character line down the bike and are really evocative.

But on the other hand, we need to be a modern company similar to the way Ducati is a modern company. They’ve accomplished so much in history, but that doesn’t mean they make every bike look like a 916. We need to go beyond that. To go back to the glory days of Norton, we need to be innovative and right at the bleeding edge of technology and design.

It’s also natural to look to the automotive industry because it’s so advanced and there are so many resources being put into it, in terms of technology and design. The big difference is a motorcycle is more of an integrated design and engineering project. A car is clad in metal and plastic and all the engineering happens underneath. Whereas on a motorcycle, it’s all on display, so there a very few components that aren’t both functional and aesthetic.

My goal is to create an environment and process within Norton that combines engineering and design. Now we have the resource in TVS and we can take that design and engineering ethos and give it some power. The shackles have come off.

Campbell: The comparisons and competition to Triumph will be inescapable. In terms of product focus, will Norton focus on vintage-styled bikes as well as modern sportbikes, similar to Triumph’s current strategy?

Skinner: For us, it will be the other way around. We are going to do modern bikes. That’s a given. The question is, are we going to classic bikes? If we remain completely true to the Norton ethos of innovation and modernity, then we don’t do classic bikes. But let’s be honest, there’s such a huge market for motorbikes like the Triumph Bonneville and it would be crazy to ignore it.

With that said, if we most certainly will be in the modern design space. If we do a sports tourer, an ADV, or a sportbike, they will all be modern bikes.

Campbell: Drawing comparisons from the automotive industry, it sounds like Norton is in the same position Volvo and Lotus were when Geely came in and provided funding and resources. Is that a fair assessment?

Skinner: It is. Obviously, we’ve got a new owner and new shareholders to answer to and everything we need to do needs to be commercially viable. But, at the same time, TVS recognizes we have some real talent within the Norton team who have never had the opportunity to be let loose. Also similar to when Tata took on Jaguar Land Rover, it allows us the freedom to operate and gives us knowledge and personnel, so the resources go beyond just putting money in the bank.

Campbell: You could argue financial distress is almost as synonymous with the Norton name as is beautiful, fast motorcycles. Having TVS as a resource is one way to help mitigate history repeating itself, but how does Norton plan to shake that reputation?

Skinner: It’s true Norton has been through the mill, so to speak and interestingly, as a brand, it has always come out the other side with a good reputation. Regardless of who’s owned Norton, they’ve always understood what the brand means and I think that’s the strength of the brand.

Norton has been up and down financially over the years and this is the most recent chapter. TVS see themselves as the guardian and custodian of the brand, not the owners and that’s a welcomed relief. They could have taken a meaningless 200cc motorcycle, slapped a Norton badge on it, and charged a few more dollars. What they actually want to do is give Norton structure and stability and have the mindset that they need to look after it for future generations.

The quality will filter down into the product because TVS won’t compromise their beliefs for Norton. They want to build a motorcycle that leads the world in innovation, technology, design and quality. It won’t happen overnight, but that’s the vision. It’s a challenge, for sure, but TVS have that desire and drive.

Campbell: What’s the production timeline look like with those goals in mind?

Skinner: We have about 18 months before the new product starts to filter through. But we need a bit of time to fully adopt the new engineering quality, procedures and processes. When we launch in May and start production, those bikes will be the highest quality Nortons ever built in over a decade, if not ever. We’re taking it step by step and it’s going to take a period of time to have the processes in place, the structure and get the right people on the team.

When we went into administration, we had 55 employees. We now have 125 and we’re still hiring and that’s without selling any motorcycles yet. That’s a statement of TVS’s intent and investment: they want to put the people in place to make this the best brand in the world and make the best motorcycles in the world.

Norton Motorcycles invests in advanced new factory headquarters

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Norton Motorcycles invests in advanced new factory headquarters in Solihull

  • The Norton Motorcycle Co Ltd has moved to a new location in Solihull, West Midlands
  • The new HQ will be a permanent base for all staff and incorporates state-of-the-art design, engineering, manufacturing and quality capabilities
  • Opening of the newly fitted out factory comes after a multi-million pound investment from Norton’s new parent company, TVS Motor Company
  • Commissioning is near completion and opening is expected in Q1 2021
  • Over 50 high quality, new jobs have already been created and more are expected to follow as the business activity grows providing a welcome boost to the local economy.
  • The site in Solar Park, Solihull is the most advanced facility that Norton has ever had

The Norton Motorcycle Co Ltd has announced that the company is moving to a new headquarters. The state-of-the-art production site located in Solihull, West Midlands, will open following a multi-million pound investment by Norton’s Indian parent company, TVS Motor Company. It will be the most advanced manufacturing facility in the 122-year-old motorcycle brand’s history.

The premises will be the central hub for all of Norton operations, providing a permanent base for all staff. The new headquarters will be home to design, engineering, purchasing, sales, marketing, and support teams as well as the skilled production team that is resuming manufacture of motorcycles. Some of the specialist tooling and equipment previously used by Norton has been carried over to the new site in Solihull, but the site is benefiting from substantial new investment.

The new manufacturing facility will make use of modern-day, quality-assured production processes. Skilled technicians will deploy bespoke bike building techniques and state-of-the-art new manufacturing equipment to ensure all bikes are built with great precision and quality, a hallmark of both Norton and TVS Motor Company. Norton will resume production of the Commando Classic model at the Solihull site, building a limited quality to honour customers that had ordered and paid for a deposit on these bikes. Production of the V4SS will commence soon and the full opening of the facility is expected in Q1 2021.

Sudarshan Venu, Joint Managing Director of TVS Motors, said: “The opening of the new headquarters represents a significant step forward for Norton Motorcycles. The opening of this state-of-the-art facility will create the foundations for a sustainable long-term future of Norton. The new bikes will meet the world class standards our customers expect.

“2020 has been a tough year for the world but we are excited to be moving into our new home and we are delighted this has been created by the Norton and TVS teams in just 9 months. This new facility underpinned by strong quality processes will produce bikes truly worthy of the illustrious Norton brand and take it into the future. We are setting out to create a future for the company, our employees, our customers and our partners that lives up to the highest expectations and enable Norton to once again become the real force its history deserves.”

Andy Street, Mayor of the West Midlands, said: “The arrival of Norton’s global headquarters to Solihull is a real vote of confidence in our region as we look to recover from the pandemic. It speaks volumes to the strides the West Midlands has taken forward in recent years that Norton has chosen to come home after more than a decade based outside the region. This investment not only re-establishes our historic partnership with Norton, but will set a world-class benchmark for exceptional motorcycle manufacturing at the heart of our region, creating hundreds of jobs in the process at what is an incredibly challenging time economically.

“This investment also represents the start of an important partnership between the West Midlands and TVS Motors. With Tata-owned JLR also based in the region, the West Midlands has a good relationship with India that we are constantly looking to improve through the West Midlands India Partnership. This investment by Norton exemplifies what exactly we are trying to achieve with the partnership, and I am delighted to welcome the company back home.”

The new Norton headquarters demonstrates the continued investment by parent company, TVS Motor Company. The Norton Motorcycle Co Ltd was acquired by TVS in April 2020. TVS is committed to ensuring the long-term of Norton as a self-sufficient brand, true to its core values and heritage.

About Norton Motorcycles

Norton Motorcycles was founded in 1898 as a manufacturer of fittings and parts to the two-wheel trade.

Norton Motorcycles went on to become one of the most iconic British motorcycle brands, manufacturing famous models such as the 650SS, Atlas, Commando, Dominator, Manx, Navigator and more – constantly innovating in motorcycle technology, with features advantageous for lightness and strength in motorcycle racing. Norton Motorcycles has an unrivalled history in motorsport and the brand name is synonymous with Isle of Man TT racing.

In April 2020, Norton Motorcycles was acquired by TVS Motor Company, India’s third-largest motorcycle manufacturer. Under the leadership of TVS, Norton is based out of a new manufacturing facility in Solihull, West Midlands, building British bikes in England using traditional hand-crafted techniques with modern day machinery for consistently high quality.

Norton will fill the high-end technology deficit for TVS Motor

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by Chanchal Pal Chauhan from https://auto.economictimes.indiatimes.com

Norton is one of the most iconic British brands, besides Triumph, Royal Enfield and BSA. Incidentally now all of the remaining famed British brands either have Indian owners or strong engineering relationships with local entities.

Another Indian company bags a storied European brand.

This time it’s TVS Motor, the third largest two wheeler maker from the world’s biggest bikes and scooter market, and getting ‘Norton’ under its belt would not just fill the technology deficit, but would also make it a serious contender in the super-bike category, something its rivals are always vying for.

Industry veterans cite it as a major catch for any aspiring Indian company aiming to hit the global circuit in style. “Norton is a major brand in the developed markets of Europe and the US and at Rs 150 crore, it’s a steal. The brand has a major pull and would fill the void for TVS Motors in technology and take it many years ahead of its rivals,” says a two wheeler specialist.

TVS Motor Company has announced the Norton acquisition on Friday. Norton is one of the most iconic British brands, besides Triumph, Royal Enfield and BSA. Incidentally now all of the remaining famed British brands either have Indian owners or strong engineering relationships with local entities.

Typical of the cash-starved British brands, Norton was started in Birmingham in 1898 by James Lansdowne Norton. It has a fantastic global appeal, a strong unique design and British heritage carried for decades. It has always been closely associated with “Motor Racing” and also makes superbikes in various categories across markets.

It is a brand which has a huge opportunity for TVS to scale up and create value. TVS Motors can now focus on these developed markets with a known brand and the hugely expanding recreation biking segment. This classic and unique British design and heritage will be the core for the company looking at building out a future in premium, luxury and classic bikes as well.

TVS has spent about 16-million British Pounds on the acquisition, funded through internal approvals and, it is an asset purchase. The cash savvy Indian companies have been on the prowl with Bajaj Auto acquiring KTM and Husqvarna marquee brands in the past.

Meanwhile, the SUV major, Mahindra&Mahindra through its two wheeler company had also acquired another iconic British motorcycle brand, BSA a few years back. Mahindra also owns 60 percent of Classic Legends Private Limited (CLPL), who had re-introduced the Yezdi brand back into India.

The two wheeler market leader Hero MotoCorp had acquired American superbike maker Erik Buell Racing or EBR, – the East Troy, Wisconsin-based firm, to harvest cutting-edge technology and design to develop future models. However, the deal turned sour and the Indian entity lost a good amount of money.

EBR, a fairly new enterprise, turned bankrupt a few years after the acquisition and the technology it was developing almost got wasted for Hero MotoCorp and failed to harvest any of its investments. Subsequently, it has developed new technology centres at Kukas in Rajasthan and Germany to fill the tech-deficit.

The cash-rich Indian companies have been looking at the global spectrum of motorbiking and Norton gets TVS to that niche level.

Virtually on a bankruptcy mode, Norton had undergone a rough patch in the past two-years, though TVS has not taken any of its past liabilities or the responsibilities. While the Chennai-based entity has committed to meet all customer commitments and will carry on with all the existing employees too. There are about 55-60 of the permanent employees serving Norton at the time of acquisition as per the company website.

Industry insiders say what is the need for TVS to acquire Norton of UK at approximately Rs 150 crore at such an unpleasant hour, amid the coronavirus scare and massive uncertainties, especially when they already have a tie up with BMW Motorrad.

An industry veteran quipped, “BMW tie-up restricts them to 500cc (in terms of engine capacity), whereas with Norton acquisition they can wheel out 650-1800cc of biking. Moreover this opens up the entire Europe and the US markets for them … Norton may not be too popular in the West, but mind you it is strong in technology and engines, which will determine the future of performance biking and motor racing…”

According to Sudarshan Venu, Joint Managing Director, TVS Motor Company, “Norton is an iconic British brand celebrated across the world, and presents us with an immense opportunity to scale globally. We will continue to retain its distinctive identity with dedicated and specific business plans.”

Due to the challenges it (Norton) faced in the last few years, TVS insiders believe in the flipside there’s potential to scale up the company to create massive value in the long-term from the new acquisition to the Indian two wheeler company.

Norton is a brand that always stood for bespoke production, craftsmanship and unparallel motoring luxury along with unique design and innovation, something TVS has been looking for and really seeks to build out. In fact, each bike costs upwards of 25,000 British Pounds and is custom-built for the customer in those markets.

As for the industry gains, TVS would be eyeing huge synergies across supply chain and distribution. These gains would be beyond the product and the company would be looking forward to the new products in the pipeline. TVS has got all the intellectual proprietary and brand rights and is looking forward to resurrecting and scaling it in the future.

TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers in the world, has operations across a dozen international markets like Indonesia, Philippines, Yeman, Columbia, Kuwait, Yeman, Honduras etc. The new string; Britain’s iconic sporting motorcycle, Norton will carve out TVS into a storied motorcycle maker of modern times and will reflect its rising prominence in the highly competitive international two-wheeler market.

TVS acquires Britain’s most iconic sporting motorcycle brand ‘Norton’

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by TE Narasimhan from https://www.business-standard.com

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

TVS Motor Company on Friday announced the acquisition of the United Kingdom’s most iconic sporting motorcycle ‘Norton’ in an all-cash deal, for £16 million, by acquiring certain assets of Norton Motorcycles (UK) (in administration), through one of TVS Motor’s overseas arms. This would be among the most interesting acquisitions of a storied motorcycle maker, and reflects TVS’ and India’s rapidly rising prominence in the global two-wheeler market, said the company.

Founded by James Lansdowne Norton in Birmingham (in 1898), Norton Motorcycles is among the most popular British motorcycle brands of all time.

Since the 20th century, Norton has been renowned for its classic models and eclectic range of luxury motorcycles, ranging from the authentic retro classic reboots of the famous Commando to their contemporary 200 bhp, 1200cc V4 super-bikes.

Sudarshan Venu, joint managing director of TVS Motor, said: “This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand.”

Norton had some management issue, which TVS — with its global supply chain capabilities and financial support — helped overcome. Though there will be some concerns in the short term due to Covid-19, TVS Motor has enhanced its cost-reduction measures, and cut down on capex. Given the nature of Norton, which is not a capex-heavy business, there seems no immediate concern. Manufacturing will continue in the existing facility, and there are many customer orders that will be fulfilled in a profitable manner.

The immediate focus would be on developed markets, in which Norton is already present, before expanding in key developing markets. The company has a strong relationship with BMW, which will continue. Venu said, “TVS Motor will work closely with customers and employees in building the success and pre-eminence of the Norton Motorcycles brand.”

“It is a brand, which gives us a huge opportunity to scale up and create value. The funding has been through internal accruals. It is an asset purchase, since this company had a slightly rough time in the last few years, we have not taken any past liabilities or responsibilities,” he added.

The company has committed to absorb all 55-60 employees.

“We also see synergies across supply chain and distribution, and are looking forward to the products in the pipeline. We have got the IP and the brand rights,” said Venu.

by Dia Rekhi from https://economictimes.indiatimes.com/

Chennai: TVS Motor CompanyNSE 8.96 % on Friday announced that it has acquired Britain’s iconic sporting motorcycle, “Norton”, in an all-cash deal for a consideration of GBP16 million by acquiring certain assets of NortonNSE 11.96 % Motorcycles (U.K.) Limited (in administration) through one of TVS Motor’s overseas subsidiaries.

The brand is renowned for its classic models and eclectic range of luxury motorcycles.

“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,” said Sudarshan Venu, Joint Managing Director, TVS Motor Company.

He added that the brand, which was founded by James Lansdowne Norton, in Birmingham, in 1898 will retain its distinctive identity with dedicated and specific business plans.

Sudarshan said 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, he said Norton Motorcycles can leverage TVS Motor Company’s global reach and supply chain capabilities to expand to new markets.

India’s TVS Motor snaps up British brand Norton Motorcycles

by Pamela Barbaglia from https://www.reuters.com

India’s third-largest motorbike manufacturer TVS Motor (TVSM.NS) has sealed a $20 million deal to buy British brand Norton Motorcycles as part of a distressed sale.

The all-cash transaction, which was announced on Friday, will see the Indian firm take control of the 122-year-old Leicestershire brand for 16 million pounds ($19.98 million) through one of its overseas subsidiaries.

It marks the latest swoop by an Asian company on an iconic British brand, after Jaguar Land Rover became part of Tata Motors.

“Norton presents us with an immense opportunity to scale globally,” said TVS’s joint managing director Sudarshan Venu, adding his firm would provide “full support for Norton to regain its full glory”.

Reuters was first to report that an agreement had been reached, with TVS pledging to revive the British brand which is controlled by Chief Executive Stuart Garner.

TVS will invest in some of Norton’s most famous models, including Commando, Dominator and V4 RR.

Discussions between TVS and accountancy firm BDO – which acted as Norton’s administrator – kicked off earlier this year after the British firm, founded by James Lansdowne Norton in 1898, fell into administration in January.

Venu said TVS, which is listed in India with a market value of $1.8 billion, would work closely with Norton’s employees and customers to retain its identity and outline a specific business plan.

Rothschild acted as TVS’s financial adviser on the deal, while law firms Khaitan & Co and Slaughter and May provided legal advice.