Trinity buys rival's assets
Page 15
If you've noticed an error in this article please click here to report it so we can fix it.
• Trinity Holdings, the parent of municipal vehicle specialist Dennis Eagle, has bought the assets and design rights of its rival Shelvoke, the Letchworthbased refuse vehicle manufacturer which went into receivership last July.
Dennis Eagle does not plan to produce any new Shelvoke designed vehicles, but it will complete current vehicle orders.
The Warwick-based firm will be supplying parts and maintenance for the 2,000 Shelvoke vehicles it estimates are still operating. It is also believed to be interested in taking over production of a vehicle which Shelvoke manufactured under licence. "It's not our intention to continue the manufacture of Shelyoke products," says Dennis Eagle financial director Mike Underhill. "Their products would compete with ours: they are not as good as our product and don't last as long," he adds.
The deal was completed last week after receiver Grant Thornton liquidated Shelvoke, making about 70 staff redundant. Dennis Eagle expects it to add £2.5m to its turnover.
About 15 of the Shelvoke staff will be retained alongside two of Shelvoke's six former parts and service depots at Merthyr Tydfil and Birmingham.
The two sites boost Dennis Eagle's service network to 27 outlets handling servicing for Shelvoke and Dennis Eagle products. The remaining depots and the Letchworth, Herts factory will be closed.