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Electrical and Mechanical Engineers of Yate, Bristol.
Manufacturers of electric motors and tractors.
1923 Company founded.
1938 Share issue to cover the expenses involved in developing a new electric motor.
1945 Main business included electrical motors up to 25 h.p., steel castings especially chains and bearings, moulds and ploughshares, and electrical switchgear.
1948 Assigned 2 Government surplus factories at Grantham which would be used for the manufacture of tractors.
1960 Successful in exporting fan motors to the U.S.A. as a result of adapting to the new U.S. standards which had recently been revised.
1961 Manufacturers of electric motors including specialised types such as flameproof, vertical hollow shaft and close-coupled pump; machine tool rebuilders and factors; electronic instruments. 1,500 employees.
1965 Orders for specialised motors from various countries in the Far East, including 300h.p. explosion-proof motor for a refinery and hollow-shaft motors for deep well pumps.
1965 Shortage of labour and duplication of ranges between manufacturers was limiting Newman's - rationalisation of the range of motors could double Newman's production.
1965 Howell Electric Motors (USA) would import electric motors from Newman's to replace a line made at its Michigan plant, rebadging the motors, and also import Newman's standard motors.
1970 Prices and Income Board report proposed limiting price increase on electric motors to 4%
1972 Difficulties in machine tool industry (Newman's largest customer) caused surprise 1st half loss.
1973 Appointments to 7 senior management positions:
1973 Leroy-Somer of France acquired 20% interest in Newman Electric Motors, Newman's overseas sales arm (except USA).
1974 Manufacturing venture established with Cycle and Carriage Co of Singapore making products for Eastern hemisphere.
1974 Thomas Poole and Gladstone (TPG), a group with the same chairman as Newman's, acquired 11.5% of Newman Industries with further purchases in following days.
1975 TPG proposed to sell quoted and unquoted investments and transfer some related liabilities to Newman's in exchange for cash but would retain its holding of 26% of Newman's but this was opposed by Angus Murray, a non-executive director and chairman of Redman Heenan. It was also proposed that the shareholding of another company in TPG should be purchased by Newman's. Several meetings of shareholders took place before the purchase of assets from TPG was approved and questions were raised by disclosure rules relating to directors's dealings. Some institutional shareholders continued to question the deal and an independent report was obtained from Schroders.
1978 Offer for remaining shares in Avdel International, to be paid for by a rights issue. Failed to acquire Wood and Sons.
1978 Newman Industries Ltd acquired Dint Engineering Group.
1980 Two Directors of Newman Industries were found to have misled shareholders in relation to the 1975 purchase of assets from TPG; fine and damages to be decided later. As a result the chairman was dismissed. Subsequently, on appeal, 4 of the 5 verdicts were overturned. The auditors paid compensation for error in their valuation.
1980 London and European Group bought stake in Newman's. Cycle and Carriage Co (Singapore) then offered to take a controlling interest in Newman's, by making a cash injection.
1982 Shares suspended
1983 Shares relisted.