Post by stevebaldock on Jul 1, 2008 7:03:00 GMT
Hi All,
We are pleased to announce that we have been informed today that we've been successful in the purchase of the IPR and assets of ModelWorks. (subject to contract and us paying!)
Although we are both now poohing ourselves (to put it politely), we are looking forward to the challenge and finishing the engines that the majority of MW's customers have part completed. We are also in discussions with a couple of individuals who have expressed an interest in acquiring the loco side of the business. One is interested in the 7.25" loco's and the other is interested in the 5" loco's. (No promises but fingers crossed).
We hope to call or write to all vehicle customers shortly explaining our intentions and what we have planned.
Our main priority at the minute is to entice 3 of the ex MW's staff to join us. If we are successful we plan, short term, to complete the manufacture of 2" Burrell boilers, finish machine the Foden crank shafts and start the machining of the Foden cylinders. This hopefully will generate enough working capital to enable us to purchase raw materials for future kits.
Everything will be explained in more detail in our next correspondence.
Finally we would like to thank everybody for the support given. We would especially like to thank 3 ModelWorks customers (who would like to remain anonymous) who without their help and financial assistance this would not have been possible.
Steve & Dean
www.SteamTractionWorld.co.uk
We are pleased to announce that we have been informed today that we've been successful in the purchase of the IPR and assets of ModelWorks. (subject to contract and us paying!)
Although we are both now poohing ourselves (to put it politely), we are looking forward to the challenge and finishing the engines that the majority of MW's customers have part completed. We are also in discussions with a couple of individuals who have expressed an interest in acquiring the loco side of the business. One is interested in the 7.25" loco's and the other is interested in the 5" loco's. (No promises but fingers crossed).
We hope to call or write to all vehicle customers shortly explaining our intentions and what we have planned.
Our main priority at the minute is to entice 3 of the ex MW's staff to join us. If we are successful we plan, short term, to complete the manufacture of 2" Burrell boilers, finish machine the Foden crank shafts and start the machining of the Foden cylinders. This hopefully will generate enough working capital to enable us to purchase raw materials for future kits.
Everything will be explained in more detail in our next correspondence.
Finally we would like to thank everybody for the support given. We would especially like to thank 3 ModelWorks customers (who would like to remain anonymous) who without their help and financial assistance this would not have been possible.
Steve & Dean
www.SteamTractionWorld.co.uk
