Lotus purchase 'a strategic move'

Lotus has announced it has bought one of its suppliers in a “key strategic move” that it said demonstrated its intentions to grow the business.

The sports-car manufacturer and automotive engineering consultancy, which has its headquarters and main factory near Norwich, has acquired Holden Lightweight Structures for £100,000. The operation - which is based in Worcester and has net assets of £2.7m -is being rebranded as Lotus Lightweight Structures.

The new division employs 120 engineers, technicians and sales staff. It will continue to manufacture lightweight structures and compon-ents for its existing clients as well as aiming to grow its business through the new association with Lotus.

Lotus said the tie-up would have no impact on existing jobs at Hethel.

Chief executive Mike Kimberley, who celebrates the second annivers-ary of his return to Lotus today, said the deal gave the company control over the 'platform' (or chassis) aspect of the car-manufacturing process. He added that Lotus Lightweight Structures was the only set-up of its kind that met all the necessary standards - including areas such as reliability and emissions - across the global markets.

The new division is expected to bring benefits both to Lotus's manufacturing operation and to its engineering consultancy.

“With this facility, we will continue to expand and lead the world in lightweight vehicle research, development and production to help our global client base find ways to reduce the weight and cost from their vehicles,” said Mr Kimberley.

“Weight reduction is one of the most attainable ways of lowering carbon dioxide emissions in vehicles today, as well as improving fuel economy and performance, and we have a duty to share our technology with the world's car makers for everyone's long-term benefit.

“We look forward to increasing our support to customers, clients and new ecologically driven projects worldwide.”

He added: “Lotus Lightweight Structures provides additional facilities, capabilities and expertise to the Lotus manufacturing portfolio.

“The Worcester facility comple-ments our Hethel headquarters and does not substitute any of the operations in Norfolk, but enables our strategic global expansion programme to proceed to plan.”

The car maker is preparing for the launch of the next new Lotus, which has been codenamed Project Eagle, and its chassis structure will be the first product to emerge from the rebranded Lotus Lightweight Structures facility. Meanwhile, the division will continue to assemble the Elise, Exige and Europa aluminium chassis.

Courtesy of EDP

16 May 2008