Following the demise of Corgi Toys under the ownership of Mettoy a management buyout saw a new company (Corgi Toys Ltd) form in 1984. Albeit in smaller numbers the new company continued to produce model vehicles from their original home in Swansea until costs again threatened and some dies were moved to China. In 1989 the business was taken over by Mattel Inc an American multinational who continued trading the brand through until a second management buyout at the end of 1994.