UK: New composite parts group formed
A new automotive industry composite components maker has been created in the UK.
The Express Composites group has completed the acquisition of Racing Technologies Norfolk (RTN) from the Audi group for an undisclosed sum. A new facility for the expanded group is under construction in Norfolk near Express' current site.
Express automotive clients include Lotus Cars, Aston Martin, TWR, DAF Trucks, LDV, Unipart and Scania Bussar.
It also recently secured a major production contract from Tesla Motors of California to supply carbon fibre body panels for its electric sports car.
RTN claims to be a leader in advanced composites design, engineering and rapid prototyping, specialising in the motorsport sector, and has also undertaken a number of carbon fibre development projects, most notably for the recently launched Bugatti Veyron.
The expanded group also claims to be one of only a few suppliers in Europe that can offer a complete range of services, from design and consultancy to low and medium volume engineering and manufacturing of composite components.
The newly-created group employs about 150 staff in the UK and expects sales of GBP10m this year.