mjkelly7uk
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| posted on 13/1/05 at 04:50 PM |
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Caterham Cars Sold
Caterham Cars have been sold check out www.blatchat.com
Press release
http://www.corven.com/downloads/press0105_caterham.pdf
[Edited on 13/1/05 by mjkelly7uk]
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Surrey Dave
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| posted on 13/1/05 at 05:24 PM |
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Blimey....!!
Must be the competition in that market..........too many replicas/clones
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chunkielad
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| posted on 13/1/05 at 05:28 PM |
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Yeah apparently you can build a similar car yourself for £250!!!
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Volvorsport
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| posted on 13/1/05 at 06:13 PM |
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i like the cost effective track racer part !
www.dbsmotorsport.co.uk
getting dirty under a bus
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mangogrooveworkshop
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| posted on 13/1/05 at 08:40 PM |
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Kissy
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| posted on 13/1/05 at 08:53 PM |
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Presume they'll follow Mr Dyson and manufacture in Malaysia?? That'd be two companies, that went up their a*** years ago, over there -
good luck to 'em (the Malaysian people I mean, they'd need it!)
Any chance of some philanthropist buying Robin Hood just to bury them and give Mr Chapman a peaceful night's sleep?
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Mark Allanson
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| posted on 13/1/05 at 09:17 PM |
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Look at http://www.corven.com/assets.html
" From 1997 to 2000, the Corven team rescued a niche sports car manufacturer from certain bankruptcy and within 18 months led the business to
its most profitable year in its 50 year history."
Who was that then?
If you can keep you head, whilst all others around you are losing theirs, you are not fully aware of the situation
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carnut
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| posted on 13/1/05 at 09:20 PM |
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This is a real shame, I wouldn't be at all suprised if Caterham goes to pot now!
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JoelP
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| posted on 13/1/05 at 09:44 PM |
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what a bizzare first post...
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stevebubs
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| posted on 14/1/05 at 12:11 AM |
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That'll be Lotus...
quote:
Originally posted by Mark Allanson
Look at http://www.corven.com/assets.html
" From 1997 to 2000, the Corven team rescued a niche sports car manufacturer from certain bankruptcy and within 18 months led the business to
its most profitable year in its 50 year history."
Who was that then?
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Peteff
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| posted on 14/1/05 at 12:54 AM |
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Look near the bottom of this.
http://www.freshminds.co.uk/events/privateequitylecture.htm
I don't understand the workings of big business but anybody who can increase Lotus profits by 95% in one year must know something, even if
it's not cars.
yours, Pete
I went into the RSPCA office the other day. It was so small you could hardly swing a cat in there.
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Volvorsport
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| posted on 14/1/05 at 01:06 AM |
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yeah , so he increased them from £50K to £150K , perhaps he sold a lot of poo .
www.dbsmotorsport.co.uk
getting dirty under a bus
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stephen_gusterson
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| posted on 14/1/05 at 12:05 PM |
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my last company was owned by a couple of investment banks.
it got screwed so badly it ended up merging with another.
the banks are in it soley for a rapid return. if that means shipping caterham to delhi or manilla, that will happen. My last company sacked 20
production staff and moved production to checz repulic, where the wages are approx 20% of this country.
atb
steve
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andyps
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| posted on 14/1/05 at 01:32 PM |
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Lotus had a couple of really bad years profitability wise, so a 95% increase was not difficult. Not doing quite so well at the moment again, so was
probably a great way to get good publicity by massaging the short term figures.
Whatever anyone might think about them, it would be a great loss if Caterham suffers is moved out of the UK or whatever so Corven can make a quick
profit. Guess the Nearn family will be pretty stable financially now.
I would have preferred it going to someone with a genuine interest as the guy who bought TVR seems to have, as did the other group who were interested
in TVR (led by Sheridan Thyne, ex Williams F1 bloke).
Andy
An expert is someone who knows more and more about less and less
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Volvorsport
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| posted on 14/1/05 at 02:54 PM |
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with a turnover of £15 million - it should have sold for £60 million or so - me thinks the family will be fairly secure
www.dbsmotorsport.co.uk
getting dirty under a bus
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stephen_gusterson
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| posted on 14/1/05 at 08:28 PM |
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60m sounds way too high
when the business i was working for was sold, it was valued on a 'profit multiple' basis, which is common im told. The company is assessed
a value as a proportion of profit, not turnover.
It can typically be from low numbers to 20 or so
in the case of where I worked, the company was turning over 24m and making 3.8 profit, at an assessed multiple of 8.5. So, it sold for approx 32
million.
just last year it was sold for 4.06 million.
blazing success.
so, on a like basis, caterham may only be making 2m or so profit a year. 10% is considered good in industry.
atb
steve
[Edited on 14/1/05 by stephen_gusterson]
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andyps
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| posted on 14/1/05 at 11:28 PM |
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If they were making £2m profit on £15 turnover in the motor industry I think someone would have bought them a long time ago. A profit level that high
would be quite unlikely.
Not sure what TVR turnover was, but if they sold 800 cars at £35k each that gives a turnover of £28m and I think the highest profit they made was
about £300k and the business was sold for £15m apparently.
Certainly usually judged more on profit and potential profit rather than turnover. Have to include assets as well, but as a non-production company
Caterham would not have had as many as some, so the main asset would be a 40+ year old design with a second, unproven, recent update of the same
design!!
Andy
An expert is someone who knows more and more about less and less
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Ian Pearson
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| posted on 15/1/05 at 11:17 AM |
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quote:
Greedy smartarses who've never worked a day in their lives. Typical Cateringvan owners. Wouldn't know what grease is.
Know a couple of the above. Built their own cars, converted to bike engine etc etc....... Work their b*ll*cks off to afford their cars. Nice folk.
I wish you wouldn't sit on the fence Syd
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