Mayflower disposal complete

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Manufacturing News, Source : TheManufacturer.com
Published : 29 Jun 2004 10:10
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The disposal of the UK assets of The Mayflower Group has finally been completed, with the sale by administrators Deloitte & Touche of the collapsed engineering group’s automotive components manufacturing subsidiary.

Coventry based Mayflower Vehicle Systems (MVS), which employs 600 people in the design and manufacture of automotive body stampings and assemblies to the body in white stage, has been sold to Stadco of Shrewsbury. Included in the deal are the MVS plant in Holbrook Lane, Coventry, and a state-of-the-art pressings operation on the Fort Parkway industrial estate in Birmingham. The value of the acquisition has not been disclosed but is thought to be over £20 million.

Stadco is part of the privately owned Acertec group (formerly the quoted company Hall Engineering), which went private in 1999. John Sword, chief executive of Acertec, said MVS would fit in well with Stadco’s business.

Mayflower went into administration in April with debts of £250 million, after accounting irregularities had been discovered. MVS will now be renamed Stadco Coventry.