Horizon to buy hobbico?

[rifleman_btx]

I've read they put in a bid for 19 mil. Might be interesting if this is true. Just don't like if it's true it would mean a monopoly of the north American market of the hobby.

[JFandL]

That would really suck if this happens

[Gasspasser]

yes, it may suck but it will keep it alive !

[rifleman_btx]

Yes indeed. So far I've not seen any actual evidence of this being true. Even still I guess we need to keep a close eye to this.

[Twowingtj]

Here is some more info that may shed some light what's happening.

[MikeT]

Since this is auction who knows what will happen. Great Planes might be a good addition for Horizon. Not to sure about the Tower Hobby Brand line fit though. Estes would hve been a better pick I MO.

Mike

[rifleman_btx]

Yeah very interesting developments. Hopefully that will keep them afloat

[Beeg]

As long as they keep making the Lite filler putty I don't care who owns it..:Cool:.

[rifleman_btx]

Ha! YES!

[MikeT]

As long as they keep making the Lite filler putty I don't care who owns it..:Cool:.

I've switched to Sherwin Williams wood filler. I can get it local and it's fantastic.

Mike

[Tom]

Latest - looks like Horizon was the only bidder: http://www.news-gazette.com/news/loc...-business.html

[rifleman_btx]

Indeed that's what I seen sofar. I'm surprised traxxas didn't bid. But then I think those guys rather see hobbico disappear than get out of this.

[MikeT]

Indeed that's what I seen sofar. I'm surprised traxxas didn't bid. But then I think those guys rather see hobbico disappear than get out of this.

Traxxas is solid and has no use for them, the last I heard they actually has a lawsuit pending against Hobbico. Horizon will operate Great Planes and Tower as soon as the court give the thumbs up. I was glad to see Estes was picked up. To attract only one bidder just shows how bad the financial situation was over at Hobbico.

Mike

[rifleman_btx]

Indeed, I thought they settled the lawsuit though.

[dennis]

The best information that I can obtain is that Horizon Hobbies only bought the RC portion of the business. Also that the current employees are not mentioned in the deal.

[MikeT]

The best information that I can obtain is that Horizon Hobbies only bought the RC portion of the business. Also that the current employees are not mentioned in the deal.

All employees will be given the opportunity to apply with Horizon.

Mike

[JFandL]

Just back from the Toledo Show, Horizon owns Hobbico now. I also got email from Hobbico to that effect. While talking to some of the Hobbico workers at the show, I found out that Horizon was going to make a decision as to who they are going to keep on and not. Best of luck to the guys at Hobbico. I for one hope they keep their jobs.

[rifleman_btx]

Agreed