05 November 2024
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It has been reported that the Margate-based company told shareholders it has entered into a conditional agreement to sell its Oxford Diecast business to EKD Enterprises.
Oxford Diecast, which was founded in 1993, has one of the largest ranges producing model vehicles and is the world’s biggest manufacturer of 1:76 scale models.
Since its inception in 1993, the company has become a key player in the modelling world and the go-to place for model vehicles, working with some of the biggest manufacturers in the world like Ford, Volkswagen, Land Rover and more.
After a reported £200,000 pre-tax loss for the year to March 31, Hornby has looked to offload the popular brand to further streamline its business.
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EKD, a business owned by former chairman and current non-executive director Lyndon Davies and his family, will pay £1.38 million.
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