Auto Solutions Limited will be acquiring the assets of HWP’s Auto Division, it was announced today [Feb 12]. Auto Solutions will be led by businessman and OBA MP Glen Smith, and the target transition date is May 1st.
HWP said they are “pleased to state that existing HWP clients will have on-going sales and after service support for warranty, parts and service with the new dealer group.
“The new company will be managed by a service orientated team of individuals who have a proven track record of creating and operating successful companies in Bermuda,” a statement from HWP said.
Jonathan Brewin, President and CEO of the HWP Group commented, “Following a very difficult period when we have been challenged with the combined effects of a global recession along with the impact of the fire that occurred in 2011 it is exciting that this opportunity to reinvigorate the automotive business in Bermuda is taking place.
“Our objective is two-fold: to ensure that many of our valued employees are hired by the new company and that our clients enjoy a seamless service transition to Auto Solutions”.
The fire at HWP in August 2011:
HWP said the target transition date is May 1st, and the actual date will be communicated to the public over the next couple of months.
HWP anticipates no interruption to auto sales, service and parts support for existing and future clients, and noted that the continuous supply of new vehicles to Bermuda is part of the deal. Auto Solutions has placed vehicle orders in anticipation of opening with current car inventory.
The new company’s management team said they intend to “bring innovations to the automotive business in Bermuda and good job opportunities which will promote Bermuda’s economy.” The majority of HWP employees will be offered positions with the new company.
“This is an exciting opportunity for me to grow a business, which in the long term will result in creating jobs for Bermudians and setting a high standard of service to our client base”, Mr Smith commented.
Don Mackenzie, Chairman of HWP Group, “We have given this careful consideration and have not made this decision lightly. Seventeen months ago, the fire severely damaged our automotive business.
“Since then, the HWP team has worked tirelessly to resurrect the company in order to protect HWP’s staff and our clients. This path we have come to is our best option. Glen Smith and his investor group have the track record to protect our customers and will provide new opportunities for our loyal team”.
The new company will be operating out of the existing HWP premises. Once discussions are finalized, the public will be informed of more detailed plans for Auto Solutions. HWP will be working with the new company to ensure a smooth transition for HWP clients and suppliers. Discussions with HWP’s automotive suppliers are at an advanced stage.
The non-automotive operations of HWP Group, including the Rubis service stations on East Broadway and St. John’s Road will continue to operate. HWP represents Hyundai, Mitsubishi, Honda, Suzuki, Daihatsu, Subaru, Nissan, Volkswagen, Mazda and Skoda.
- Marsh Executives To Participate In Conference
- AFL Appoint Rayner & Alexieva
- Change In SFI Management Team
- Nabors Expands Board Of Directors
- Ironshore Inc. Management Appointments
- Seadrill Corporate Management Change