The story
In 1960 Britten-Norman Ltd began trials of their new "Cushioncraft"—their name for an air-cushion vehicle built for Elders and Fyffes. It was used to study the potential of this type of vehicle for the carriage of bananas from plantations in the Southern Cameroons. Together with its associated company, Crop Culture (Aerial) Ltd, Britten-Norman studied the potential for the Cushioncraft in many different countries. These investigations revealed the possibility of a break-through in transportation techniques by the use of air cushion vehicles which could accelerate the pace of development in territories where roads are nonexistent and costly to build and rivers are seasonally unnavigable.
Cushioncraft was reconstituted as a separate company in 1967 to permit British Hovercraft Corporation (BHC) to take a minority share holding, and it revived the name under which Britten-Norman's initial ACV endeavours were launched. Cushioncraft has an authorised capital of £500,000 and issued capital of £450,000, BHC paid Britten-Norman £90,000 for a 20 percent stake in the company's hovercraft activities. The board of Cushioncraft comprised Messrs F. R. J. Britten, Desmond Norman, J. M. McMahon and F. H. Mann (all directors of Britten-Norman), Peter Winter (technical director), and A. R. B. Hobbs, BHC's nominee.
In 1971, Britten-Norman encountered financial problems, and one result was that the Cushioncraft company was sold in 1972 to the British Hovercraft Corporation.
From Wikipedia’s article on Cushioncraft, shared under CC BY-SA 4.0.3