Time Group still ticking according to Mohsan

Tahir Mohsan, the chairman of Time Group Middle East Limited (TGME) and founder of Granville Technology Group (GTG), has spoken out on the recent financial collapse of GTG in the UK.

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By  Stuart Wilson Published  July 29, 2005

Tahir Mohsan, the chairman of Time Group Middle East Limited (TGME) and founder of Granville Technology Group (GTG), has spoken out on the recent financial collapse of GTG in the UK. According to a statement issued by TGME, the UK manufacturing facility is not affected by GTG’s collapse and will continue to produce plasma and flat screen TVs as well as notebooks and PCs. GTG was founded by Mohsan, who left the UK three years ago to grow Time Group’s international operations. Currently based in Dubai and heading up Time Group Middle East Limited, Mohsan remains committed to making a major investment in this region. “GTG, the UK sales and marketing company that trades as The Computer Shop and Tiny.com, and one of the main customers of the Group’s UK Factory has gone into Administration,” read the statement from TGME. “The Group Factory in Lancashire, UK, is not affected and will continue to produce plasma and flat screen TVs, laptops and computers.” “GTG was a major customer of the UK factory and Time Group Middle East is in negotiations with GTG’s administrators to support its existing customers,” commented Mohsan. “We are looking to increase sales to our other customers to minimise any effects on the factory, however, retail sales accounted for only 15% of the UK factory’s operations,” TGME is totally separate entity to GTG according to a Dubai-based spokesperson for the company. As such, TGME remains committed to its plan announced earlier this year to invest more than US$40m during the next five years to construct an assembly facility at Dubai Silicon Oasis with a production capacity of more than one million units per annum. “The Group’s manufacturing operations and sites in China, Europe and the Middle East are not affected. [TGME] plans to continue with its major expansion in Dubai,” concluded the statement from Time Group Middle East Limited. Reports in the UK press suggest that the Mohsan family is currently holding talks with GTG’s bankers at HSBC and administrators from Grant Thornton regarding the potential for saving some of the 1,500-plus jobs at stake. Given the statement issued by TGME, it appears that the UK manufacturing facility, which employs approximately 500 staff, may not actually constitute part of GTG and could therefore survive in some form despite the financial collapse of one of its major customers.

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