KEY POINTS:
Few names conjure up the spirit of post-war childhood in the same way as that of miniature toy-maker Corgi.
With features such as doors that opened, proper windows and wheels that spun, Corgi steered customers through the technological explosion of the baby-boom years, straddling the age of mass motoring and the Space Race.
It sold everything from trains to tractors, dump trucks to the Dolphinarium - a curious assemblage of flat-bed lorries used to transport two dolphins in a mobile water tank. Most famous was its range of Formula One cars.
As television and film came to dominate the imaginations of children, Corgi exploited the power of the media. From James Bond to Batman, it expanded its range and sold millions of toys.
This week the company was back in British hands after it was taken over by rival toymaker Hornby as part of a £7.5 million ($19.1 million) deal.
Enthusiasts hope this will breathe new life into the much-loved brand.
Although Corgi has a collectors' club of 10,000 members, the move comes amid a series of challenges to the low-key charm of the die-cast toy.
Manufacturers are faced with an ageing collector base, combined with the rise of the computer gaming industry.
Hornby chief executive Frank Martin said his company planned to invest £750,000 a year in Corgi in an attempt to expand it from its core market and appeal to a younger overseas market.
It plans to do this by striking licensing deals, similar to its successful Harry Potter range, and by taking advantage of Hornby's international distribution network.
Paul Kennelly, a collector of 37 years said when the toys first appeared, the effect was revolutionary. "Before then, model cars were dominated by Dinky which were very basic."
The genius behind Corgi's technological superiority was Marcel Van Cleemput. As well as pioneering the windows which wowed the audience at the British Industries Fair in 1956, he helped keep innovations coming thick and fast.
But by the 1970s, despite the success of cars modelled on popular TV shows, a chill wind was blowing through the whole of British manufacturing.
Rampant inflation and a devastating fire at its factory hampered production.
In 1983 Corgi called in the receiver.
But a management buyout enabled the company to soldier on for a further five years before it was bought out by Mattel, which also bought the Matchbox brand in 1997. Corgi was bought out again by management in 1995, before being sold to Hong Kong model maker Zindart in 1999.
Corgi recently moved production to Asia to cut costs but failed to make a profit last year, despite sales of around £6.5 million. Yet whatever the bottom line, to those who love miniature toys, the magic of Corgi remains undimmed.
Paul Kenelly says: "Computer games give you so many options but if you are given a box of Lego, a police car and a couple of toy submarines you make a world of your own."
- INDEPENDENT
