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Hornby buys Airfix
Boyish hearts everywhere will rejoice at the news that Airfix has been rescued by Hornby
Ailing model kit company Airfix almost bit the dust when parent company Humbrol went bust this summer.
Now model train makers, Hornby, have acquired Airfix, plus the Humbrol paints model accessories business and the Young Scientist business, for £2.6 million. Last year these brands achieved sales of £6.5 million.
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 intends to re-structure the business, moving all the distribution, sales and marketing operations to its own site in Kent.
They hope to breathe new life into Airfix by concentrating on traditional products for model enthusiasts while creating new products aimed at a younger market.
Read our nostalgic look at the sticky-fingered fun of Airfix
This article was created: 10 November 2006.
This article was last edited: 12 July 2007.
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