Watts of Lydney Group to Refocus on UK

Watts of Lydney Group has sold Watts Tyres, allowing the Group to concentrate on further strengthening its successful Truck and Van sales, service and parts business and its UK manufacturing companies

The change will allow Watts Group to develop its regional Watts Truck and Van operations without exposure to the risks inherent in the complex international tyre business. Watts Truck & Van offers sales, service and parts through their DAF, Fiat and other franchises in seven locations across the south midlands and South Wales, (Cardiff, Gloucester, Hereford, Swansea, Worcester and Yate).

Greater focus will also be given to its two specialist manufacturing companies, Watts Urethane and Plysolene. The urethane business has been part of Lydney’s landscape and the Watts Group for many years, using local expertise and resources to create world-class products. It is currently helping to save lives in Afghanistan by supplying polyurethane wheels for mine clearance equipment.

Plysolene Ltd, based in West Sussex, has also demonstrated exceptional business performance during what has been a difficult period for UK manufacturers. This Watts Group success story is about to commission a new polystyrene sheet extrusion line.

John Thurston Chairman of Watts of Lydney Group said: ‘’We have been providing services to the transport industry for over 100 years and my grandfather was developing diesel engines in the 1920’s. This is the beginning of a new Chapter in the long and unique history of the Watts Group. With £50m of sales and 300 committed employees we have a firm foundation on which to build upon our market leading businesses in the UK.”

Watts Tyres was sold to Premia Group Limited, a company controlled by former senior management of Watts Tyres on 20th October 2009 It will continue to have its headquarters in Lydney under the new ownership and no loss of jobs is expected because of the change.

Notes for editors:

Contacts

• Watts of Lydney Group
• Stewart Charters
• John Thurston

Watts of Lydney Group Limited is a holding company based in Lydney Gloucestershire w. The Group was founded over 150 years ago and still remains a privately owned company. Sales turnover is over £50m and it employs more than 300 people all in the UK.