Airfix
UK Distribution - Hornby
31.10.08
1:72
The following kits have been reissued by Airfix this week.
A03035 Dassault-Breguet/Dornier Alpha Jet £6.99
A05036 Horsa glider [ex-Italeri] £10.99
A93148 Gloster Meteor Mk III and V1 flying bomb with glue and paints and brush £11.80
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03.10.08
1:72
Back once again from Airfix this week is the Douglas Boston III (#A04033/£9.99).
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26.09.08
1:72
Back once again in this scale is the B-25H/J Mitchell (#A04005/£9.99).
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05.09.08
1:72
The latest release from Airfix is the ex-Academy Boeing B-17G Flying Fortress (#A08005/£19.99).
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26.08.08
1:72
Back once again after many years is the BAC Jet Provost T.5/Strikemaster (#A03049/£6.99).
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04.07.08
1:72
The latest aircraft kit to arrive from Airfix is the Hawker Sea Fury FB Mk 11 (#A02045/£4.99), which at that price has to be the ex-PM tooling?
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27.06.08
1:72
New from Airfix this week is, we presume, the ex-MPM Gloster Meteor F.8 (#03076/£6.99) in this scale.
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06.06.08
1:72
Reissued in an Airfix box this week is the ex-Special Hobby FMA IA 58A Pucara (#03068/£6.99).
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23.05.08
1:72
Back once again from Airfix this week are the Boulton Paul Defiant NF.1 (#01031/£3.29) and the Dornier Do 17E/F (#04014/£9.99).
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02.05.08
1:72
New and reissued kits now readily available in the UK are as follows
01002 Gloster Gladiator Mk I £3.99
01058 Cessna O-1E/F Bird Dog £3.99
02034 Douglas TBD-1 Devastator £4.99
02050 Buffalo F2A-2 Buffalo £4.99
02051 Henschel Hs 123A-1 £4.99
03077 Boeing AH-64 Apache Longbow £6.99
98670 Falklands Set[Includes Sea Harrier, Harrier GR.3, Mirage Dagger, Pucara, Super Etendard, and Skyhawk plus paints, glue, brush and a bonus wall chart] £29.99
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10.11.06
As many in the UK will have heard via radio and television news, it was announced today that Hornby Plc have purchased the Airfix and Humbrol brands from the Administrators. Here is the official press release, as given on the BBC website this morning.
Hornby Plc ("Hornby"), the international models and collectables group, has announced that it has entered into contracts to acquire certain assets of Humbrol Limited in Administration (Humbrol), the owners of the Airfix model kits and Humbrol paints businesses. The acquisition encompasses the Airfix model kit business, the Humbrol paints and model accessories business, the Young Scientist business and their associated assets. These brands are sold in a range of territories worldwide and are highly complementary to Hornby's existing brands. In the year to 31 December 2005 the acquired brands achieved sales of £6.5 million.
Hornby has exchanged contracts with the administrators and will pay total consideration of £2.6 million in cash on completion for the assets acquired from the Administrators Grant Thornton.
Hornby intends to re-structure the business, moving all the distribution, sales and marketing operations to its own site in Kent. It will re-locate the manufacturing and assembly processes to third parties. This will allow Hornby to focus on re-invigorating the marketing and distribution and driving sales growth.
Airfix and Humbrol remain strong brands and enjoy an excellent position in the market place. Demand has remained buoyant in recent years. Humbrol products are used by modellers across a large range of applications worldwide. Hornby management believe that they can re-invigorate the Airfix business by focussing both on traditional products for the model enthusiast and also by investing in new products aimed at the younger market.
The market for Humbrol's paint and model accessories products is very broad. Humbrol sells a successful range of products that consists of enamel paints, aerosols and adhesives in a large number of markets including Europe and the US.
Humbrol's products are used in a multitude of applications, not just model making. This will broaden Hornby's product offering which currently ranges from model railways, slot car racing sets, track extensions, buildings and landscape accessories.
The consideration will be financed out of Hornby's existing bank resources. The transaction is expected to be earnings neutral in the current financial year and significantly enhancing thereafter.
Frank Martin, Chief Executive of Hornby commented,
"We are delighted to have acquired Airfix and Humbrol, both of which are iconic brands in the hobby market. The strategic fit with Hornby is excellent. Hornby has similar distribution channels to Humbrol/Airfix, and we therefore plan to integrate the business into our existing structure, which gives the business the right platform and a more streamlined base from which to grow.
We have taken steps to re-align the cost base of the manufacturing and assembly process, to create a solid base from which this business can thrive. We can focus on product innovation, improving the marketing and driving sales growth.
Hornby has the expertise and track record of re-invigorating hobby brands. A detailed integration plan has already been put in place, to ensure that we improve the profit performance rapidly.
This acquisition consolidates the Group's strategy to build an international hobby business with a broad range of brands, allied to a tightly controlled cost-base. We are making good progress across a range of markets and territories."
Keith Hinds, joint Administrator at Grant Thornton said:
"I am delighted to be able to announce this successful sale. This transaction provides the best opportunity to preserve and develop what is an iconic brand."
We will keep you posted on progress and annoucements as they come along. Hornby will be displaying at the British and German Toy Fairs in early 2007, so I think for now it is a case of 'watch this space...'!
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