Ford Motor Co. has finally sold Aston Martin, a sports car maker it owned along with Land Rover, Jaguar and Volvo, to a British consortium. The consortium is led by Prodrive boss dave Richards, and this could mean a ot of technological collaboration with his company, which is renowned for its motorsport innovations. The price is said to be 439m Pounds, although Ford will retain a 40m Pound stake in the company.
Aston Martin will remain at its purpose-built factory in Gaydon in Warwickshire, which employs 1,800 people. This next stage in the company’s history promises to be the most exciting yet
Mr Richards – who is making his investment in a personal capacity – is a former accountant who was a co-driver in professional car rallies and has been described as the “Richard Branson of motorsport”. His company Prodrive already runs the Aston Martin racing team in the sports car series around the world, as well as the Subaru world rally team. “This is an incredible opportunity – Aston Martin is one of the world’s most iconic brands,” he said. “We are confident we now have all the right ingredients to take Aston Martin to even greater heights.”
Also in the consortium is John Sinders, a banker in finance and shipping who spends his time between Texas and Dubai. “The dream for me was to own an Aston Martin, never to own part of the company. It’s a dream come true,” Mr Sinders told the BBC.
Two Kuwaiti companies – Investment Dar and Adeem Investment – complete the group.
Aston Martin will continue to depend on Ford for technology and parts, but needed outside capital. This arrangement works out all around. Aston Martin developed genuinely beautiful and high quality automobiles matched with taillight cover that salvaged the brand and re-created an iconic image. Overall, Ford did very well with Aston Martin.
May 24, 2007 3:14 am
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