HAYNES MANUAL PUBLISHER UP FOR SALE

The Deputy CEO of Haynes International Motor Museum (HIMM) has assured Classic Car Weekly that it will not be sold – despite Haynes Publishing PLC announcing that it is looking for further investment.

Opened in 1985, HIMM, in Yeovil, Somerset, is listed as a separate charity to Haynes Publishing PLC; HIMM has assets including 400 classic cars, a large collection of automobilia and a bustling workshop.

Deputy CEO, Chris Scudds, said that he could not comment on the publishing group’s decision, but hinted that the museum may need more staff next year.

He said: ‘The announcement from Haynes Publishing PLC will have no effect on the museum. For us, it’s business as usual. Haynes Publishing PLC and HIMM are entirely separate entities. We have exciting plans for 2020, including a new exhibition in June and there are plans to strengthen the collection in line with our Arts Council accreditation.’

Haynes is recognised worldwide for its long-established publishing empire and famous Haynes manuals; its founder, John Haynes, passed away earlier this year and as such did not get to see the firm he created celebrate its 60th anniversary next year.

When completed, the formal sale process for Haynes Publishing PLC will see the rest of its share capital of nine million shares listed for sale privately. More than seven million ordinary shares in Haynes Publishing PLC are already listed on the Official List of the London Stock Exchange.

Haynes Publishing PLC’s executive chairman, Eddie Bell, said: ‘Our recent operating performance sits well on the sound foundation of the trusted and respected Haynes brand.

‘ The Board now believes that our future will be best secured by the whole Group becoming part of an organisation with the financial resources to invest for future expansion and take the Company through to the next 60 years of success.’