Torotrak PLC Share News (TRK)

Leyland-based Torotrak, which makes energy conserving vehicle transission systems has acquired the business and assets of Motorsport Components, giving the group high-precision manufacturing capability for components that do not require advanced surface enginereeing. In an interim management statement issued on Friday, the group disclosed that it acquired the assets of the company, which counts Chevron Cars among its customers, for a consideration of £175,000. It stated that the Motorsport Components business was profitable with a modest annualised turnover of £214,000."We expect this figure to grow as Motorsport Components Limited becomes an important element in our integrated future engineering services business."In addition to this acquisition, the company further stated that it had entered into discussions with Allison Transmission regarding Tototrak's engineering support for their programme and licensing option for Allison to maintain exclusivity after March 15th.MF