the new baj ltd operated as five divisions - rockets, coatings, naval systems, composites and stored energy, and made sales of £13.5 million in its first year, lasting as an independent company until 1987 when it was sold to meggitt holdings plc. at this time the freehold of the banwell site, leased for 21 years in 1964 from the government at £20,000 a year, was being negotiated and it was actually acquired on 29 april 1988. the workforce was then 463, but with