Thatcher with Bamford during a visit to JCB's headquarters in 1987.

JCB chairman Sir Anthony Bamford says he is deeply saddened to hear of the former British prime minister Margaret Thatcher's death this week.

"My thoughts are with her family at this very sad time. Margaret Thatcher will be remembered for many things, not least for being Britain's first woman prime minister. Above all else, she had the courage of her convictions, she led from the front and ensured Britain enjoyed the respect it deserves overseas."

As a mark of respect, flags at JCB's factories were lowered to half-mast on Tuesday, and will also fly at half-mast on Wednesday, April 17, the day of Thatcher's funeral.