Thornycroft Acquires Newage Transmissions

Thornycraft Ltd., an automotive and off-highway equipment company, has acquired Newage Transmissions Ltd. Effective immediatly, Newage will become a subsidiary of Thornycroft. In the company's press release, Thornycroft executive Andrew Ross says, "We have been very impressed with Newage's performance in terms of reducing manufacturing costs, its ongoing development of new products such as StepDrive and continuing sales growth in tough international markets around the world."