GKN buys factors
14th July 1984, Page 20
14th July 1984
Page 20
Page 20, 14th July 1984
— GKN buys factors
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THE GKN engineering group has agreed to buy the Godfrey Holmes and Affiliated Factors, subsidiaries of Smith Industries. Godfrey Holmes has 70 branches specialising in the distribution of psv, commercial and agricultural vehicle components. Affiliated Factors has 50 branches specialising in paint, garage equipment and products for vehicle refinishing.
GKN and Smiths are waiting for clearance from the Office of Fair Trading before finalising the deal. The Monopolies Commission recently blocked a GKN bid for the AE (Associated Engineering) group.