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Metis announces manufacturing appointment 22 March 2013

Intellectual asset specialist Metis Partners has been chosen to assist in the marketing and sale of the intellectual property owned by Philidas Limited, a market leading brand within the fastener manufacturing sector.

For decades, the Philidas steel all-metal self-locking industrial nut has been a highly-renowned staple component of engineering products manufactured by global businesses including Jaguar-Land Rover, BMW, Bosch and Network Rail.

A Glasgow and California-based business which operates globally, Metis Partners has been commissioned by liquidators, Duff & Phelps, to assist in the marketing and sale of all the intellectual assets of the West Yorkshire-based manufacturer.

Philidas products contributed substantially to the UK’s war effort in the 1940s and have retained a prominent role in the automotive, aerospace and rail industries from the 1950s to the present.

The company manufactures some 85 million fasteners a year. As well as sales to UK customers, Philidas makes direct exports to customers in Spain, South Africa, Mexico, Brazil, Hong Kong and Romania.

The assets for sale include numerous product drawings, tooling drawings, tooling designs and process designs, extensive test data, documentation relating to design and development work as well as customer and marketing data.

Nat Baldwin, head of corporate recovery at Metis Partners, said: “Many customers place a high reliance on specified Philidas products due to their high-quality, reliability and the lack of credible alternatives on the market. Philidas products are widely-specified in various industries and considered to be safety critical.

“Having previously successfully sold similar assets including the brand and extensive testing data and certifications of Abesco, a manufacturer of fire protection products; and design drawings, brand and marketing materials of Octagon, a disaster relief housing solutions manufacturer, we expect to see widespread interest in the Philidas range of products from prospective buyers including fastener manufacturers and distributors, hardware manufacturers and other manufacturers in the automobile, railway and aerospace sectors both in the UK and internationally ”, he said.



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