Yes, that is true. Bloor actually "owned" BOTH Triumph companies. The original company which made the old Triumphs known for breaking down, but also known for their sound and feel and "character" I am proud to have owned a 1966 Example. The "new" Triumphs do not use anything but the name, and in the case of the Bonneville, some of the styling form the old bikes. They are brand new. Bloor actually went to Japan, and copied their designs and manufacturing methods. There is some good in this, the bikes are reliable. The bad is they are somewhat like all other Japanese bikes, bland and lacking in excitement. The sport bikes are about equal to Japanese, meaning they do their job, nothing more, nothing less. The biggest cost of using the Japanese motorcycle industry model however, may be that Triumph is building disposable bikes, not designed to be inexpensively and easily rebuilt over and over like the original bikes, and there may be parts availability issues for older models. And unlike the originals, there really isn't much of an aftermarket for the new ones, past accessories and cosmetics. John Bloor is a businessman, not a motorcycle enthusiast, So I'm assuming he went with the easiest way to make the most money, while still keeping the company (but not necessarily the current bikes) sustainable.