India's well-known automobile manufacturer TVS Motor recently acquired British motorcycle brand Norton Motorcycles for GBP 16 million (around Rs 153 crore) in a full cash deal. However, the company has no plans to shift the manufacturing of Norton motorcycles to India. According to media reports, TVS Motor Company will continue manufacturing Norton motorcycles in the UK. In addition, the company will retain the same design and assembly team, even though the British brand is still owned by TVS.
For your information, tell us tell you that TVS is now the exclusive owner of Norton Motorcycle and the headquarters of the British motorcycle brand will be shifted from Donington Hall to a new address in the same vicinity. TVS is trying to leverage the expertise of the existing design and engineering team as it prepares to re-establish Norton as a global motorcycle brand. The TVS statement said that it would be one of the most interesting acquisitions of the historic motorcycle brand in recent times and would reflect India's rapidly growing prominence in TVS Motor Company and the international two-wheeler market.
Commenting on this acquisition, Sudarshan Venu, joint managing director of TVS Motor Company, said, "This is an important time for us at TVS Motor Company. Norton is a reputed British brand known worldwide and we Provides opportunities on a large scale globally. This transaction is in line with our effort to fulfill the aspirations of discerning motorcycle customers "We will extend our full support to Norton to achieve its full glory in the international motorcycle scene."