![]() The price of sale was approximately the amount of the 2016 government grant which was used, at the time, to purchase back the land and buildings on Pickersleigh Road, that had been sold in 2005/6 to fund the company. And though it was also announced that the Morgan family retained a minority shareholding and would continue to be involved in the company this does not appear on any statement filed with Companies House. Though it was announced that as a part of Investindustrial's investment, management and staff were rewarded with shares in the company, this appears nowhere in the information registered at Companies House. A press release dated 5 March 2019 announced the acquisition of a majority stake in Morgan Motor Company Ltd by the Italian investment group Investindustrial. In August of 2018, the name of Morgan Technologies, was allowed to change its name back to The Morgan Motor Company while the original company, founded by HFS Morgan in 1957, had its name changed to a numbered company and accordingly registered at UK Companies House.įor most of its history, the company was owned by the Morgan family. In January of 2016, the Company was once again UK government funded by a £6 million grant by the British Government after a series of visits from UK politicians and Royals. In 2016, he resigned as chairman and company director and was replaced as chairman by a new director, Dominic Riley. Īt the end of 2013, the shareholders appointed Andrew Duncan, a local solicitor and very close friend of the late Peter Morgan, as chairman. ![]() In January, 2013, Morgan was removed as managing director, replaced by Morris, but continued as strategy director until October 2013 when he was removed both as an employee and member of the board of directors. This cured the negative equity that had occurred over the Charles Morgan tenure. In 2010, the MMC became dormant and all assets were sold to a new company called Morgan Technologies for an unpaid 15 million and which took over all the former assets of the Morgan Motor Company, Aero Racing, the Morgan M3W Company and all other companies bearing the Morgan name. After Garnett's resignation, a four-man management team was established.Ĭharles Morgan (son of Peter), Matthew Parkin, Tim Whitworth and Steve Morris made up the new management team, and in 2010, after Parkin's resignation, Charles Morgan was named managing director. He was replaced as chairman by Alan Garnett, a non-family director, from 2003 to 2006. Peter Morgan, son of HFS, ran the company until a few years before his death in 2003. Morgan continued to run it until he died at age 77 in 1959. Morgan's first four wheeler came in 1935 with three wheelers phased out in 1952. Production of three wheelers approached 1000 by WW1 and quickly resumed with both racing and touring models. He began production a year later and the company prospered. Previously he developed the first independent front suspension in In 1909 he designed and built a car for his own use. Morgan quit the Great Western Railway in 1904 and co-founded a motor sales and servicing garage in Malvern Link. Advert for Morgan's four-wheel "Adler", from The Aeroplane, 15 August 1912
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