Axon / FarLink
THE LINK BETWEEN AXON AUTOMOTIVE AND FAR COMPOSITES
In August 2013 Far-UK Ltd acquired a controlling interest in Axon Automotive Ltd. Over the preceding months the companies had been working closely together on a number of projects and it had become apparent that their skills and future development had closely related and complimentary paths.
Axon is focused on the commercialisation of its Axontex™ material. This revolutionary beam material brings carbon fibre structures an economic possibility for mass market vehicles. Axon has been able to prove the readiness of its technology with a number of demonstrator vehicles. Far is focused on the development of new composite technologies and helping customers introduce those technologies into production. As a result it became clear that Far Composites offered Axon Automotive a lot of the skill sets it needed to achieve its mission and at the same time Far Composites is able to use the experience of commercialising Axontex™ to help grow its materials development capabilities.
The owners of Axon Automotive decided that the relationship could work even better if it were formalised and the company accepted an offer accordingly in August of 2013, and Far took over the management of Axon Automotive. In essence the deal represented a “vertical integration” and the companies seek to exploit the potential benefits such a merger offers.
Axon is already achieving benefits by sharing skills and expertise across the two teams and this demonstrates real benefits for customers. Axon is now able to tap into Far Composites experience of material development to further develop Axontex™ and taylor it more effectively to customer demands.
As the two businesses have different offerings and strategic aims they will continue to be run as separate limited liability companies. This enables them to play independently to their strengths while working together where it gives benefits for their clients.