PSR SELLS ELECTRO STEER BRAND TO BELGIAN FIRM

by

Power steering component brand Electro Steer has been bought by Belgium company Car Parts Industries (CPI) for an undisclosed sum.

The Yorkshire brand, which forms part of larger firm PSR Direct, will be set up as a new company when it joins CPI.

PSR Direct was established in 1998 as a hydraulic power steering systems supplier, but as the market began to lean towards electronic systems in 2007 the Electro Steer brand was created.

PSR Direct MD Graeme Stocks says the acquisition will be an exciting time for his company: “We are excited to join the CPI group, and benefit from working with a company with long experience in bringing re-manufacturing into large scale production and distribution.”

Stocks will take the helm of the newly created Electro Steer Ltd, while PSR direct will re-divert its attentions to supplying hydraulic power steering equipment under new management.

TRIBUTES PAID TO RICHARD PARRY-JONES

Marshall Motor Group Chairman has died following an accident

Read More

PRA FIGHTS AGAINST RETAIL VIOLENCE

Initiative launched to prevent aggressive behaviour towards retail employees

Read More

AUTOINFORM EVENT RE-SCHEDULED TO NOVEMBER

Organisers confident that training event will finally take place late in 2021

Read More

EAG UPGRADES WAREHOUSE MANAGEMENT

Leeds-based firm install MAM warehouse management system

Read More

SEMI-AUTOMATED BATTERY ASSEMBLY LINE ESTABLISHED

Comau UK chosen to implement highly automated production

Read More

Go to comments

Your email address will not be published. Required fields are marked *