snapped up in US deal

Green Automotive Company, a Californian-based company which makes zero and low emission technologies for the automotive sector, has announced that it has signed a binding agreement to buy Transhock Ltd., the re-manufacturer and distributor of vehicle parts and accessories based in the West Midlands.

Transhock Ltd is managed by two partners (David Davies and Derek Neale) who will remain with the business post acquisition, strengthening the GAC management team. The business has a total of over 50 employees.

Commenting on the agreement, Ian Hobday, CEO of Green Automotive Company said, "Recycling and remanufacturing car and truck parts is a lucrative business that also makes environmental sense. By reusing existing parts instead of making new ones, we not only reduce operating costs, but more importantly reduce greenhouse gases and our environmental footprint. GAC through its Liberty E-Care business had already started the process of remanufacturing various EV parts and is pioneering the refurbishment of EV batteries. By bringing Transhock into the GAC team, we can add to their existing business our emerging electric vehicle parts business.