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Press releases:
| 7th January 2008 | Niche Vehicle Manufacturer Opens the door for Orders for New Track Car
GTM Sportscars Ltd. will be booking test drives and taking orders for its new ultra light track car, the GTM 40TR (Track and Race).
Designed and manufactured to celebrate the company’s fortieth anniversary, the 2-seater features an exposed aluminium super-structure and is powered by a 2 litre Type R Honda engine which will produce 220bhp and is expected to reach 60mph in sub 5 seconds and go on to a top speed of over 150mph.
The GTM 40TR has been designed as a joint venture with Stadco Engineering, purely for track racing, but a road legal version will be manufactured if demand dictates.
The 40TR which is expected to cost between £16,000 to £17,000 otr, is the third model in GTM’s stable. The track car sits alongside the upmarket Libra sports car launched in 1998 and the Spyder convertible launched in 2002.
Paul Faithfull, Managing Director of GTM Sportscars Ltd., said (suggestion only): “In 1967 when the GTM marque was launched, we manufactured cars for track racing. We gradually moved into mainstream automotive manufacturing but for our fortieth anniversary we wanted to re-introduce GTM to the world of motorsport. The GTM 40TR offers racing enthusiasts something different with its ultra light construction. It is extremely fast and superb value for money.”
GTM Sportscars Ltd., is part of the Potenza Sports Cars stable along with Westfield Sportscars, both members of the Niche Vehicle Network supported by Advantage West Midlands. |
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| 6th December 2007 | Consolidation and Restructuring is the Key to the future of British Automotive Manufacturing
In order to compete with the relentless surge of competition from foreign manufacturers who often operate in lower cost economies, Potenza Sports Cars Ltd., has today taken another step to cement the future of and build on the skills of the British car industry.
In a move to consolidate and strengthen British niche vehicle manufacturing, Potenza, owners of Midlands based Westfield Sports Cars Ltd. has acquired GTM Sports Cars Ltd., for an undisclosed sum.
Potenza Chairman, Frank Turner said: “By collecting a group of excellent platforms together we can competitively develop a seamless range of British niche sports cars which meet the demanding requirements of our customers’.
“We are reducing our expenditure by working with universities and local colleges on R&D and styling trends which can be costly for a small business. We can also take advantage of the technology which exists in other Potenza Companies to prepare for instance for emerging costly environmental and safety requirements. We have to be able to be better than the competition at utilizing material, human and financial resources. This latest move is a further step along the way in establishing a portfolio of respected niche British sports car brands, dedicated to producing high performance eco friendly vehicles.”
West Midlands based GTM is celebrating its fortieth anniversary this year. Similarly to Westfield, the company manufactures niche vehicles both as finished cars and self assembly kits. Currently vehicles include the Spyder Convertible and Libra GT both of which will be transferred to the Westfield Sportscars site in Kingswinford, West Midlands.
David Keene the current owner of GTM will become a shareholder in Potenza Sports Cars and joins the Board as a Non Executive Director. Julian Turner will remain Managing Director of Westfield, but will also have the responsibility for Potenza Sports Cars Operations. Dr Paul Faithfull will remain Director of Technology and Quality for Potenza Sports Cars but will also become Managing Director of GTM. Expressing his delight at taking over this responsibility, Paul said GTM’s association with Potenza Sports Cars and its dealership network will allow the company to significantly increase its market presence in the niche sports car sector. He said: “The investment in GTM will allow us to build on the company’s superb reputation, developing the existing product range and realizing new products based on the Ballisa GT and 40TR concept cars. These models will share the technology being built into the Westfield XTR4 and the Euro IV compliant SE range.”
Announcing this latest acquisition, Frank Turner said “This latest move will enable our customers to progress through a range of quality sports cars for track and road use, with dedicated customer support and the involvement of dealers worldwide.”
He believes that the team of Dr Paul Faithfull, with his experience of automotive technology, the international operations experience of Julian Turner, Westfield’s Managing Director, and the broad based automotive experience of David Keene, particularly that gained by working with Honda in Japan “will enable us to continue to develop and produce state of the art, but differentiated niche sports cars.”
David Keene said: “GTM will benefit from the company’s excellent sales and marketing outlets worldwide. The acquisition will enable us to develop a stable of high premium marques in the sports car industry.”
Potenza Sports Cars was advised by Hardy Transaction Management Ltd, a Sheffield-based corporate finance business specialising in engineering acquisitions. |
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Recent press quotes:- "Green Light for British Bruiser" Auto Express, 31st January
- "40 Daze" Top Gear web site, 26th February
- "£15K Atom Rival piles on the power" Autocar, 28th February
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