UPDATE 1-Hornby granted licence for London 2012 toys

* Products include model London taxis, buses

* Company says licence is a major opportunity to grow sales

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LONDON, July 21 (Reuters) - British toy maker Hornby HRN.L said on Tuesday it had won a licence to make a range of toys and collectables for the London 2012 Olympic Games across its Corgi, Hornby, Scalextric and Airfix brands.

The company said the 2012 products would include model London taxis and London buses, die-cast figurines, model trains, Airfix models of the Olympic Stadium and Scalextric velodrome sets.

The first products, which will carry the official London 2012 branding, will be launched later this year, the company said.

Chief Executive Frank Martin said the licence was a major opportunity to grow the company’s sales and extend the appeal of its products with new customers.

Shares in Hornby, which traces its history back to 1901, closed at 103.5 pence on Monday, 57 percent above their 52-week low of 66 pence set on April 2, and valuing the group at about 39 million pounds ($64.1 million).

(Reporting by Paul Sandle; Editing by Victoria Bryan)

$1=.6087 Pound