About 70 staff leave motorsport parts maker

About 70 employees have left a company that makes high performance parts for the motorsports industry and hosted two prime ministers in recent years.

Xtrac, which is based in Thatcham, Berkshire, was visited by Theresa May in 2018 and Rishi Sunak in 2024 during their respective terms as prime minister.

Following a restructure, 25 people have been made redundant and another 46 have taken voluntary redundancy but the business says it remains "robust".

The losses are about 10% of its Berkshire-based staff and follow its takeover of Austria-based Zoerkler.

"We recognise the impact this has on those affected and have worked closely with employees throughout the process, providing support and consultation at every stage," an Xtrac spokesperson said.

Adrian Moore, the company's chief executive, said: "Our diversification into new markets, combined with the recent acquisition of precision engineering and services specialist Zoerkler, is hugely exciting for our business as we enter our 42nd year.

"However, to fully realise this potential, we need to take decisive steps now involving a review of markets, technologies resources and skills."

Moore added: "Xtrac has an enviable reputation in delivering for its customers. As a successful, dynamic, advanced engineering, manufacturing and services business, we rightly have ambitious plans for growth.

"However, this success... needs to be based on solid foundations, which will be built through this strategic realignment."