FruitBooTeR
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Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
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Thread stolen off mig 
Japanese tuning firm Trust/Greddy declares bankruptcy
http://www.autoblog.com/2008/09/10/japanese-tuning-firm-trust-greddy-declares-bankruptcy/
The market for aftermarket parts from Japan has been declining for well over five years, due in part to decreased demand both at home and abroad and the rising rates of Chinese knock-offs and other inexpensive (and dubiously built) components.
Today, one of the world's largest performance parts companies, known as Trust in Japan and Greddy here in the States, declared bankruptcy. According to various reports, Trust is approximately $60 million in debt and, after reporting a serious decline in sales since February 2008 and amassing $43 million in loan payments, filed for bankruptcy in Tokyo District Court.
Trust has been around since 1976, employs almost 200 workers and had been dealing in everything from CARB-legal exhausts to turbo systems when Greddy Performance Products was founded in the U.S. in 1994. There are several firms that will step up to fill the need of enthusiasts, assuming that Trust doesn't try to reorganize, but with the aftermarket industry down overall, we suspect this won't be the last time we'll here about a large tuner going under
Quite sad really 
[Edited on 15-09-2008 by FruitBooTeR]
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Sam
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http://www.autoblog.com/2008/09/10/japanese-tuning-firm-trust-greddy-declares-bankruptcy/
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FruitBooTeR
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Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
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Cheers mate edited lol
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Dave A
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Registered: 10th Dec 03
Location: County Durham
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Uk and European exhaust companies will be next, You can buy in a mandrel bent, tig welded, lightweight T304 exhaust system for most japanese cars inc evo's and imprezzas for less than 150 quid that are made in China.
I have been informed that these companies are now starting manufacturing on exhausts for european cars, with systems for the Astra VXR for less than 190 and items for smaller older cars like the corsa B and saxo for around 150.
Thing is, the quality is very very good!
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jr
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Registered: 20th May 02
Location: Kent
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Didnt magnex go bust last month too
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Dave A
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Registered: 10th Dec 03
Location: County Durham
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magnex, peco and another company went bust recently. I know of 4 custom exhaust companies that have gone as well. The price of stainless steel in the uk is almost double what it was 14 months ago.
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FruitBooTeR
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Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
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How come these exhaust systems from china are so cheap, is it not more expensive to the customer due to import costs etc
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Dave A
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Registered: 10th Dec 03
Location: County Durham
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car modifying is seeing a massive slowdown in the UK. generally people are buying newer cars that are faster as standard and spending less money on modifying them. Newer cars are getting harder to modify due to the way they are manufactured. Some newer cars wont even allow you to put them on a rolling road.
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Dave A
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Registered: 10th Dec 03
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quote:
Originally posted by FruitBooTeR
How come these exhaust systems from china are so cheap, is it not more expensive to the customer due to import costs etc
import costs are tiny per item when they ship in as many as they do, look at this system:
its made from t304 mandrel bent 1.5mm wall lightweight stainless steel with a 25 year warranty, I have one in at the moment. If it was custom made it would cost 250+ in materials alone, if it was mae in the uk it would cost 600+
import it from china and its less than 200 quid! and I honestly cant fault the quality.
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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When you say custom made in the UK, I take it the actually boxes are already made, then the pipes etc just bent to fit with hangers then welded on etc?
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stubbsy05
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Registered: 23rd Oct 02
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The costs for labour in China is very cheap. So much so that even Indian IT companies that UK companys outsource to are now outsourcing to China!
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Dave A
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Registered: 10th Dec 03
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quote:
Originally posted by deano87
When you say custom made in the UK, I take it the actually boxes are already made, then the pipes etc just bent to fit with hangers then welded on etc?
in most cases yes.
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WATSON
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Registered: 16th Jun 05
Location: Fife, Scotland
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Apexi went bust aswell a few months back but there back up and running, al give it a few months and greddy will be back up and running too.
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FruitBooTeR
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Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
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With $60 million in debt I highly doubt it.
Edit - And iirc if they have declared themselves bankrupt then they cant open back up? They would get rid of debt etc but would be unable to continue trading under that name so would have to re-open later on under a new name? Not sure though
[Edited on 15-09-2008 by FruitBooTeR]
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a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
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alot of companies do it
Greddy performance ltd
buy back all old stock at cut down rates
with a downturn in the market would be little point as could very easily end up in the same place
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Ben G
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Registered: 12th Jan 07
Location: Essex
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now every boy racer in town with shopping lists down there doors will have to find another tuner to put on their saxo/106/corsa
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richc
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Registered: 24th Mar 07
Location: Ilkeston
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I can see why tbh * back to the old raising fuel price card*
But yes as somebody said earlier - i have noticed alot of people around here are tending to buy new or 2-3 year old cars now instead of modifiying the older ones!
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Robin
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Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
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quote:
Originally posted by Dave A
Some newer cars wont even allow you to put them on a rolling road.
They will, you just need to know how to trick them.
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mattk
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Registered: 27th Feb 06
Location: St. Helens
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New cars are easier than ever to get now too
when I bought my punto I made a wild enquiry for a personal loan, I bought the car ( paid for it my self in the end so didnt want a loan ) and for fucking months I was getting calls from various companies pestering me to take a loan off them
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Nismo
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Registered: 12th Sep 02
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Greddy and Apexi gone now
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AndyCorsaSport
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Registered: 12th Feb 06
Location: Horsforth, West Yorkshire
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My exhaust from Manifold back was 550  what the fuuuuuuuuuck
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andyc1234
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Registered: 7th Nov 06
Location: Lancashire
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so magnex are gone? i wanted a back box
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Ben G
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Registered: 12th Jan 07
Location: Essex
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quote:
Originally posted by andyc1234
so magnex are gone? i wanted a back box
probably loads left in shops and as far as i know, mongoose and magnex are the same thing.
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andyc1234
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Registered: 7th Nov 06
Location: Lancashire
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got one ordered from motorworld so hope its ok. hello my orange brother
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