This divestment is after four years managing and helping to develop Axon Automotive and its patented super-lightweight Axontex carbon fibre structural beam system for passenger vehicles, helping to grow Axon from an emerging new technology start up into an established international business with a strong order book and future.
Far-UK’s core business objective is the development of innovative new composite technologies and helping customers introduce these new technologies into production. The sale of Axon has provided extra funds and released resources within Far-UK to allow it to focus on using its design and conceptualisation technical expertise and project management skills to develop other new production processes for manufacturing ‘next generation’ lightweight composite components.
Dr Kevin Lindsey, the newly appointed managing director of Far Composites (part of Far-UK) explained: “Our job with Axon Automotive was essentially done. The sale has freed up the Far Composites team to develop the next composite material innovation, such as the new project we are currently working on to develop new rapid, high productivity, low cost, compression moulding processes for both thermoplastic and thermoset composite systems. This project, which includes novel new materials, is initially aimed at the automotive market, but we think will be of interest to other land transportation markets, such as bus and rail.”
While Axon Automotive was with Far-UK, the two organisations continued to run as separate limited liability companies, so this change in ownership has been a smooth transition with no detrimental impact or disruption to either business or to respective customers.
Submitted on 29/11/2017