H buys out Crypton-Triangle
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Crypton Triangle, manufacturer of ;ngine diagnostic and brake testing quipment, has been acquired by Tube 'nvestments Ltd from Thorn Electrical ndustries for £1,895,000 in cash. When tdded to existing companies engaged in ;arage equipment production run by Tube nvestments, those of V. L. Churchill and Ioseph Bradbury, Crypton Triangle will brm part of the largest group in the field of ransport service equipment.
TI has at the same time disposed of its nterests in Churchill Tools and Services, listributors of engineers small tools and ,upplies, while retaining the benefits due 'tom outstanding debtors. This move will nvolve a total sum of £1,750,000 and the :ompany will still have not parted with the reehold factory sites in Birmingham, .on don, Salford and Sheffield. The three ransport service equipment companies will :ontinue with their own sales organizations Ind all the companies involved promise :ontinuity of service to customers.