British model train maker bids for Italy's Lima AP Worldstream | March 9, 2004 | . Provided by ProQuest LLC. (Hide copyright information) Copyright

AP Worldstream
03-09-2004
Dateline: LONDON
Hornby PLC, a major British manufacturer of model trains and slot car racers, has made an euro8 million (US$9.9 million) bid to acquire an Italian competitor, Lima SpA.

If successful, Hornby announced Monday, it would move Lima's manufacturing from Europe to lower-cost facilities in China, where Hornby's products are made. It said the acquisition would be funded from cash reserves and perhaps debt.

Lima, based in Vicenza and Brescia, owns several brands including Lima, Rivarossi, Jouef, Arnold and Pocher.

Lima's product line focuses on Italian railway ...

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