Ten to one
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• Ten independent motor accessory factoring firms, all owned by Smiths Industries Ltd, have been merged to form a new single national organization trading under the name Affiliated Factors Ltd with headquarters in High Wycombe and regional offices in Doncaster, Stokeon-Trent, Worthing and Colchester.
Initially the new company has, throughout the country, 38 branches and depots but further expansion planned. Mr F. E. G. Morris, Affiliated Factors' managing director, said: "This is the nucleus of a chain of factors which we intend to build into a nationwide network."
The 10 "founder member" companies are: Anco (Potteries) Ltd; Autospares and Accessories (Portsmouth) Ltd; Colbridge Motor Factors Ltd; Fred Medcalf and Co. Ltd; Garage Supply Factors Ltd; LTR Distributors Ltd; Lonsdale and Moffat Ltd; Masons Motor Factors (Sussex) Ltd; Smallbone Factors (Worthing) Ltd; Yorfactors Ltd.