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Anonymous

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Andy Downes  says:

Norton granted £625,000 government-backed loan

British bike firm Norton has been granted the first of a new government-backed trade loan after a visit today by Business Secretary Vince Cable at the Donington Park HQ. The loan is the first of its kind and has been made under the Exports Enterprise Finance Guarantee Scheme (ExEFG). The funding will support the company’s plans to increase production to 1,000...

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  • Posted 4 years ago (01 August 2011 17:49)

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LaughingGas

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Oct 08

Posts: 262

LaughingGas says:

625,000 isn't a great deal really but, personally I don't agree with this. If they go into MotoGP, as they've publicly said they would , then they should hand back all Government cash. Then again the flip side of this says if they need a hand out

a) They can't be doing that well. b) They certainly can't afford to enter MotoGP( I'm guessing )

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rlf3

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Jan 10

Posts: 429

rlf3 says:

too expensive

IMO Norton are stuffed.

The bikes are too expensive and the manufacturing costs are too high.

 

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LaughingGas

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Oct 08

Posts: 262

LaughingGas says:

I'm willing to bet they go under again in the near future and pop up (again) 10 years down the line under different management.

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boybilly1967

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Dec 08

Posts: 1291

boybilly1967 says:

They need to drop the MotoGP dreaming and cocentrate on getting the price down to realistic levels.

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andy4us

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Aug 11

Posts: 1

andy4us says:

It's a loan

It's not a hand out, it specificallies says a loan, which normally means that it is charged interest and has to be paid back. Normally these government backed loans are a lower interest than would be given by a bank, and often are to higher risk companies, that if they could get a loan from a bank, the interest rate would be a killer. In Norton's case, the loan was to help with the costs of export and international customers. The advantage for them, is that they can use that money for that purpose, and use the money that they were going to use for that for other purposes.

 

It's only a hand out if they go Delorean !

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eltomo

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Dec 09

Posts: 164

eltomo says:

rock on

good work, that will really help them get started on increasing production and R&D.

 

to all the nay sayers, go hand your heads in shame, you SUCK!

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OTimms

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Mar 09

Posts: 27

OTimms says:

I really don't get it...

How is Norton a 'prime example of British business innovation'?? They took an ancient design slightly updated by an American under the previous ownership then accessorised it up with off the shelf Ohlins and Brembo crap that doesn't even suit its style!!

The MotoGP dream is all a load of crap, I'd love to see who's bank rolling that. I sincerely hope this Government backed loan isn't powering the hype. If they can't complete a lap of the TT I can't wait to see Chris Walker stick one over Jorge next year, on his pre-unit engine and push rods going 19 to the dozen.

Don't get me wrong I'd love to see them do well, but this whole thing stinks of posh boys having another Hurrah with the great name, if Triumph can't afford to chance a 1000cc sportsbike how can Norton risk a MotoGP project off the back of a range of retro bikes?

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eltomo

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Dec 09

Posts: 164

eltomo says:

OTimms - not correct

sorry sir you are wrong, norton are currently working on designs for a few different bikes that have never been seen before. they currently only have a few models out but the ride well, the go well and look superb tastefully updated and well equiped

 

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tockie

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Aug 10

Posts: 310

tockie says:

Well done Norton for getting backing from the government in whatever form and well done                 " Vincent " Cable for pushing it. 

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OTimms

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Mar 09

Posts: 27

OTimms says:

Fair enough eltomo, but

could you tell me where all the money's coming from for these projects? In Triumph terms we're all familiar with Mr Bloor's financial prowess in property development but I can't see where Mr Garner gets his dosh (fireworks just aren't that profitable are they?)  

 

 

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