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Bowman buys Oilite’s assets from the administrator
Published:  11 May, 2009

The Abingdon-based bearings and sintering specialist Bowman International has acquired most of the assets of its former competitor, Oilite Bearings, after the Ipswich-based manufacturer went into administration at the end of 2008. Bowman has bought Oilite’s trade names, stock worth more than £250,000, tooling and other equipment, from the administrator.

Oilite’s former managing director, Paul Mitchell, has joined Bowman as technical director.

The acquisition strengthens Bowman`s position in the sintered component market and will boost its exports. The deal also increases its stock-holding to more than £1.75m, and it now claims to have 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,” says Bowman’s managing director, Paul Hancock. “It means we can offer customers an even better service and an even wider range of components.”

Oilite Bearings had been manufacturing self-lubricating bearings and sintered components for more than 70 years. For many years, it was part of Manganese Bronze Holdings, best known for manufacturing London’s black taxis. In 2003, the components division was sold to BSA Holdings, which went into administration in 2006. Oilite Bearings became a stand-alone company after a management buyout.

Bowman International was founded in 1972 as a design and marketing company specialising in bearings and precision components. It is now one of Europe`s leading specialists in plain bearings and brushes for electric motors.

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