2012 Olympic torch to be made in Coventry

[dutchman]

The Olympic Torch will be made in Coventry, it has been announced today.



Premier Sheet Metal has won the prestigious contract, beating hundreds of manufacturing firms across the UK.

The London Organising Committee of the Olympic and Paralympic Games showcased prototypes of the London 2012 Olympic Torch to be carried by 8,000 inspirational torchbearers.

The Premier Group - which is based in Brindley Road North - was set up in 1992 with the founding of Premier Sheet Metal and today employs more than 100 workers and 17 apprentices.

Workers will be responsible for making the Torch, which is a triangular, gold-coloured design - perforated by 8,000 circles.

Sebastian Coe, chair of the LOCOG, said: ‘The Torch that carries the Olympic Flame during the Olympic Torch Relay is one of the most recognisable and significant symbols of an Olympic Games.

“Members of the public right across the UK are busy nominating inspiring people to be Torchbearers and I am thrilled we have a beautifully designed, engineered and crafted Torch for them to carry.”

[dutchman]

Warwickshire firm that made the 2012 Olympic Games torch goes bust



An automotive firm that made the 2012 London Olympic torch has gone into liquidation.

Premier Sheet Metals said it blamed "conditions within the automotive sector which were further compounded by the onset of Covid-19".

Based in Exhall, Warwickshire, the firm said a fall in sales had affected its cash flow and could no longer trade.

It produces sheet metal parts for the automotive sector, which has been struggling throughout the pandemic.

The first six months of the year saw the number of cars built in the UK slump to the lowest level since 1954.

Premier Sheet Metals also made the 8,000 torches used in the relay that marked the opening of the 2012 games.

A spokesman for the firm said despite "substantial cash injections", extra funding could not be secured, "largely due to the absence of any certainty in the marketplace".

"Following a review of the company's financial position and cashflow requirements by the company's advisors, it became apparent that Premier Sheet Metal (Coventry) Ltd could not generate sufficient sales and in turn cash flow to enable it to continue to trade," he added.

"Therefore, very regrettably, and after a period of over 25 years of trading, the decision was taken to commence the process of placing Premier Sheet Metal (Coventry) Limited into liquidation."

Other companies within the group remain unaffected.

[rebbonk]

Blaming covid is a little bit naughty, they've been on the slide downwards for a few years. Their liquidity ratio has halved (about .65 in 2019) since 2016 and their gross profits have fallen from £6.4m in 2015 to £1.6m in 2019.

I suspect that covid has hastened things though.