Uplifting end to a depressing story
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WHATEVER one calls a tipping gear that depresses instead of elevates that was Edbro about three years ago when Geoff Buckley arrived from Ford to lead a new life-saving team. With a huge bank overdraft and a world recession, the Bolton company had almost shot its bolt.
Even so, it still managed to hold the lead in its particular market. A loss of nearly £4m in 1980-81 was, however, too high a price to pay for glory and savage action had to be taken quickly just to stay the race.
Sadly, half the workers had to go (some to be replaced to robots), along with obsolete factories in Bolton, a warehouse in Manchester and three small companies that were losing money. With profit now restored, substantial new investment and confidence high, Edbro is tipping its new big bore-seal hoist to win in the rigid eight-wheeler stakes.