Norton plans to roar back

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NORTON, one of the great names of British motorcycling, will attempt to return to the big time this week with a refinancing package and possible stock market listing.

The company has been in virtual limbo since the Department of Trade and Industry mounted a wide-ranging investigation into the activities of its former management. That report, published 10 days ago, has been sent to the Serious Fraud Office.

Chairman David MacDonald wanted to wait until the lengthy DTI investigation was out of the way before finalising details of the package. Norton's pounds 6m debt to Midland Bank will be converted into equity, and there will be a capital injection to finance production of its new F2 series racing bike.