Thread: Triton/GMC Announcement

Nothing changed! No Bosch involvement me thinks the old management from GMC starting again.

Originally Posted by Tribo

Nothing changed! No Bosch involvement me thinks the old management from GMC starting again.

Based on what?

same email address at bottom of post but instead of @gmca it is now ozemail

The email address is an original GMC one. It is listed in the product manual I linked to in a earlier post.

Will be interesting to see. This is not an uncommon practice. Some years back Regent caravans faced having to repair over 200 caravans due to faulty shipment of material. This would have been an enormous cost, so the company was put in the hands of a receiver. In turn the assets were sold off. My understanding is that a group of employees purchase some assets and are now building caravans under a different name (wont mention here). However, the original owner purchased the remaining assets including the Regent name. Now business is as usual, and 200+ owners with faulty caravans left high and dry as the current Regent brand is owned by a different entity. This information was provided by a caravan dealer at the time. I was one of the 200+ !!

Damn that must be annoying - just as your employer gets brought back to life, you get the chop. Sorry to here that Eagle and best of luck. Maybe you'll spill the beans here once you're no longer working there...

Tribo,

Your comment is probably more likely than Bosch or Costco buying the remnants.

The role of the administrator is to get the highest return possible for creditors. If this means accepting an offer that is way below book value, however above anything that could be CLEARED after the next best alternative then they will.

The company is worth most to the people that can do the most with it. For a tool maker, much of the range would be worthless as it just replicates an existing range. The few IP and brands would have a small value.

To the boys that built the company, being able to aquire the things of value, without the debt, still having the contacts with retailers should put them in a position to start again, this time with more in the tank than their first adventure.

You would imagine that employees as loyal to them as Eagle was would have a role if they wanted it in a few weeks.

Steve

the former owners were part of a consortium that bought GMC and Triton so yes they are still involved.....but its like starting from scratch. So Triton stuff wont be manufactured for a little while whilst they get back on their feet.

Sorry guys dont want to get too involved - might get a job back one day and god knows I need it!!

Cheers all and thanks for the outstanding words of support and thanks.

Originally Posted by Eagle

the former owners were part of a consortium that bought GMC and Triton ...

It's great that they get a second chance to screw things up .

Eagle, best of luck with finding a job. I hope you land on your feet.

Originally Posted by Vernonv

It's great that they get a second chance to screw things up .

Eagle, best of luck with finding a job. I hope you land on your feet.

Not quite the same as starting from scratch. The new /old owners may have escaped the debt of the old comany, but in doing so will no doubt have created a lot of ill will. Good luck, you will all need it.

"the former owners were part of a consortium that bought GMC and Triton so yes they are still involved..."

Well....knock me over with a feather!!!

Would NEVER have guessed that!!

Originally Posted by Sparhawk

The email address is an original GMC one. It is listed in the product manual I linked to in a earlier post.

I've exchanged email with toolpete, and having his name I googled it. He holds the (design) patent for one of the GMC products.

Originally Posted by Eagle

Dear Triton User and Industry ,

A consortium of investors has acquired the intellectual property of the Triton and GMC businesses.
That is the products, patents, tooling, manufacturing rights etc.

This company will pick up where the old company left off etc marketing the tools to the world.

This means that various customers in UK, USA, South Africa that you email will all have their warranty honoured etc for Triton brand at least.

Announcements are expected over coming weeks including service abilities etc

Any further questions can be sent to the following email address in the short term [email protected]

On behalf of the new consortium

They pretty much admit GMC is dead themselves.

As a side issue, toady at Bunnings Eltham all the AEG gear is dicontinued, as well as Triton marked down

Discontinued because it is changing color and some new tools coming