Wednesday 7th February 2007

TVR's name goes up for sale

Trademark sale raises hope for TVR's future

---

TVR Tuscan convertible: back in production soon?

The TVR trademark is up for sale.

Contrary to what most people -- including PistonHeads -- believed, it now appears that the TVR trademark is owned by Blackpool Automotive, the production company that TVR owner Nikolai Smolenski spun off, and which used to be called TVR Engineering.

PistonHeads' investigations with the UK's Patents Office have revealed that Blackpool Automotive, currently in administration, owns the TVR trademark -- and that the company's up for sale (see link below).

Blackpool Automotive's listed assets include:

• TVR trade marks for the UK, EU & US
• Moulds & tooling - TVR Tuscan, Tamora, Sagaris & T350
• Leasehold premises 14,000 sq m
• Manufacturing plant, equipment, fixtures and fittings
• Work in progress and vehicle stock
• Draft turnover 12 months 31 December 2005 - £18.87m

Smolenski spun off TVR Engineering (as it was then called) from the holding company with the aim of moving production elsewhere, originally to another site in Blackpool and then -- when talks with the local council fell through -- abroad, with Bertone's factory in Italy strongly tipped.

It was thought that Smolenski had retained the trademark in the holding company but this now appears to be incorrect.

As to who's buying Blackpool Automotive, no-one's gone public but there is speculation that Al Melling, one of three engineers credited with the design of the TVR AJP engine (he's the A, as in Al, of that acronym) is interested. If true, then Melling is one of some 15-20 investors who have expressed an interest in buying the company, according to a story in the Independent newspaper. Melling is also progenitor of the already infamous four-turbo, 1,200bhp 6-litre V10-powered Hellcat.

TVR's directors, in the form of managing director David Oxley and Smolenski, aren't saying anything.

However the upshot is that Blackpool Automotive, rather than just owning TVR's physical assets, which have been described as being in less than perfect condition, also owns the name. This makes the company far more valuable, and means that a buyer will be able to restart TVR production with the right badge on the cars' bonnets. As long as their pockets are deep enough, that is.

While speculation about the future can be illuminating, it shouldn't be forgotten that hundreds of livelihoods were in TVR's hands. This news sheds just a glimmer of hope that those livelihoods -- and all that hard-earned expertise and know-how -- may at some point be rescued.

Let's hope so.

Links

• FT: Automotive Engineering for sale
• The Independent: 'Baby oligarch' loses his trademark rights at troubled TVR
• Related story: Melling's Hellcat has surfaced

[twincam16]

Interesting...

So, if Melling gets hold of it, could the Hellcat become an official TVR model? That'd be a turnout for the books - TVR, back from the dead and the Veyron in its sights! Hell, if you aim for the stars, you'll at least hit the sky.

[Uncle Bulgaria]

you couldn't make it up, no wonder the company went down hill with these muppets in charge. Or are they more clever than I give them credit for.

Edited by Uncle Bulgaria on Wednesday 7th February 11:25

[Bodo]

Looks like Smol'sky even ed his own fortune up.
Let's just hope he doesn't make the highest bid to PKF. His business tactics are unethical, and the people smell bullshit.