Model Forum / General / Models / October 2006

Yes.  He have might been well connected to Google News, where a search
for Humbrol turns up various recent news items.  This article mentions
both of those points:

http://www.yorkshiretoday.co.uk/ViewArticle2.aspx?SectionID=56&ArticleID=1772958

German firm set to rescue Spitfire-maker Airfix models
Revell MBO eyes Humbrol assets

Ian Briggs
A GERMAN firm is set to fly in to save model-maker Airfix, famous for
its plastic kit replicas of Spitfires, Hurricanes and Lancaster
bombers.

Hobby firm Revell yesterday revealed its interest in making a move for
Airfix, whose future was put into doubt last month after its
Hull-based parent company Humbrol went into administration.
Revell would also not rule out moves for other Humbrol assets.
Accountancy firm Grant Thornton, in Leeds, which was appointed
administrators, made 31 of Humbrol's 41 staff redundant.

The move was blamed on "severe cash flow pressures" and disruption to
supplies due to the insolvency of Heller, its main manufacturing
supplier in France, in spite of a new management team being brought in
last December to restructure the business.

Administrators said they hoped to sell the company's 'iconic' brands
and intellectual property rights.

The news that the future of Airfix was in doubt was greeted by an
outpouring of nostalgia for the plastic kits of well-known aircraft
which enjoyed their heyday in the 1960s and 1970s.
Fans were concerned it could signal the end of the brand.
Humbrol, which also owns Plasticine and Young Scientist, has suffered
trading losses for several years.

German-firm Revell, which makes Kick-O-Mania footballers, yesterday
announc-ed a restructuring. Its European businesses have been bought
out by the management team and split from its north American
businesses which it said puts it in a better position to make
potential acquisitions, such as Humbrol assets.

Revell country manager, Tom Randrup said: "The announcement of our
independence strengthens further Revell's position in the European
market.

"As Europe-wide leader and number one supplier of plastic kits and
accessories to the UK toy and hobby market, we can confirm we have
registered an interest in certain assets of Humbrol."

Earlier this month train set giant Hornby said it was considering
putting an offer in to rescue Airfix.

Airfix has its origins in a company founded in London in 1939 by
Hungarian-born Nicholas Kove, which manufactured cheap rubber toys
filled with air.

Its first model kit was the Ferguson Tractor in 1948. The Spitfire was
introduced in 1953.

Due to its massive popularity, Airfix became one of the first toy
companies to have its own magazine in 1960 and it gradually expanded
through acquiring a number of other companies, including Meccano.
Its range grew to include vintage and modern cars, motorcycles,
trains, ocean liners and spaceships.

Children spent hours making the models which were famously difficult
to assemble.

A dip in popularity saw Airfix go into receivership in 1981.
It was bought by Palitoy, part of the American General Mills toy
group, and production moved to France.

In 1986 it was taken over by Humbrol, but has suffered from falling
sales as children became hooked on computer games and TV.
A recent survey commissioned for First magazine found youngsters spend
an average of 25 hours a week in front of either TV or games console
screens – rising to 42 hours a week during the school holidays.

I haven't heard that, but in the latest SAMI the editor did mention
that Corgi & Hornby are being mentioned as possible buyers for Airfix.
Only time will tell, kick back in the recliner and watch what
happens...maybe someone will buy R/M & Airfix and create a new company.
Hawkeye