Bowman International acquires competitor Oilite Bearings
Bearings and sintering specialist Bowman International has acquired most of the assets of former competitor Oilite Bearings Ltd, after the Ipswich-based manufacturer was placed into administration at the end of 2008.
The trade names, all stock valued at over £250,000, tooling and various other equipment have now been purchased from the administrator.
The acquisition strengthens Bowman’s position in the sintered component market and will greatly expand its exports. It has also increased stock holding to more than £1.75m, with the widest range of stock sintered bronze bearings in Europe.
“The purchase of Oilite has moved us into a bigger league and effectively doubles our turnover,” said Bowman managing director Paul Hancock. “It means we can offer customers an even better service and an even wider range of components.”
The former managing director of the Ipswich company, Paul Mitchell, has joined Bowman as technical director, further strengthening the technical back up provided to customers.
Oilite Bearings had manufactured self-lubricating bearings and sintered components for more than 70 years. For many years it was part of Manganese Bronze Holdings, best known for making London's iconic black taxi cabs. In 2003 the components division was sold to BSA Holdings, which went into administration in 2006, and Oilite Bearings became a stand-alone company after a management buyout.
New technical director for Bowman International
Bearings and sintering specialist Bowman International has announced that Paul Mitchell has joined the company as technical director. Mitchell was previously managing director of Oilite Bearings Ltd, the assets of which were purchased by Bowman after the Ipswich company went into administration at the end of 2008.
With more than 30 years’ experience in the powder metal industry, Mitchell has worked with a variety companies around the world, including in the automotive, aerospace, construction and white goods sectors. He developed designs to incorporate sintered components, giving them the considerable cost and performance benefits that sintered components bring.
“I am delighted to add someone of Paul’s experience to the company,” said Bowman managing director Paul Hancock. “His extensive knowledge will enhance the technical expertise we already offer, both in production techniques and in new designs and applications.”
Mitchell’s first priority is to oversee the transfer of the assets purchased by Bowman and ensure continuity of supply to all Oilite customers.
Bearings and sintering specialist Bowman International has acquired most of the assets of former competitor Oilite Bearings.
Oilite® is a USA, UK & EU Registered Trademark of Beemer Precision, Inc., Fort Washington, Pennsylvania, USA.
