A newly- formed company has acquired the motorsport assets of Avon Tire & Rubber Company which closed its site in Melksham at the end of last year with the loss of 350 jobs.

Nova Motorsport, based in Holt, has purchased the assets and manufacturing intellectual property to ensure that the name and heritage of Avon lives on in the motorsport industry.

The company is a new global brand founded by Paul Hallas, managing director of parent company, SPC Rubber Group, a leading global manufacturer of rubber compounds, with offices in Westbury, Rhondda Cynon in South Wales and Barcelona in Spain.

Nova Motorsport has become the global supplier of a comprehensive range of Avon Motorsport tyre products, including a broad range of its premium, competition and specialist tyres.

Mr Hallas said: “The Avon Motorsport brand has been revered for setting the highest standards on the race track for well over a century.

“At Nova Motorsport, we are immensely proud to have acquired assets, including the brand licence, traditionally used in the manufacturing and sale of a broad range of motorsport tyres under the names Avon Motorsport and Avon Racing.

“Leveraging the valuable assets and manufacturing IP, and with key staff joining us from the Avon Motorsport business, we will diligently continue the legend with a comprehensive range of Avon Motorsport tyre products.

“Looking to the future, we will also innovate with new offerings borne out of our long-established expertise in rubber compounding at SPC Group.

“We are fortunate to start our new business with a recognised product and ready global reach. This will help us swiftly establish our presence as a ‘new brand with heritage’ in the industry.”

Avon Tyres was found in 1904 and soon made a name for itself in the automotive industry, especially for producing tyres for car racing.

Avon Tyres’ high-quality products quickly gained a reputation for their reliability and performance.

They became a staple in various motorsport categories, including Formula One, where Avon supplied tyres to F1 racing teams from the late 1950s to the early 1980s.

The brand was extended to motorcycle racing and touring car championships, further embedding itself in the UK motorsport sector.

The company has secured all residual stock from the Cooper Tire & Rubber Company and Avon Motorsport business to deliver consistent service and supply.

Cooper Tire & Rubber announced in October 2022 that it was closing its factory in Bath Road, Melksham, by December 2023 with the loss of 350 jobs. The factory is now running down and is expected to shut completely by the summer.