Just learnt that the bid of £450m from DRs consortium for Aston Martin has been accepted by Ford. Well done David Richards
Excellent! 8) That's another reason to get one In fact, there's only one thing standing in my way really (apart from the missus :shock: :wink: ) - or should I say 90,000 or so things... :lol: Mick :mrgreen:
Aston Martin is British again Iconic carmaker Aston Martin is back under British control following a £479 million deal. American owners Ford have sold the Warwickshire-based company to a consortium led by UK motor racing boss Dave Richards, 54. Mr Richards, who is head of automotive engineering group Prodrive, described the deal as "an incredible opportunity", adding that Aston Martin was "one of the world's most iconic brands". He will become non-executive chairman and a board member of a company that will later this year bring out the DBS model, the car driven by the latest James Bond - Daniel Craig - in the 007 movie Casino Royale. Dating back to 1914, Aston Martin has been wholly owned by Ford since 1994. The company will stay at its 1,800-workforce headquarters at Gaydon where an extra 200 jobs are expected to be created within three years. The new staff will work on the four-seater Rapide which was shown in concept form last year and which is due to be launched in 2010. Mr Richards said: "We are confident we now have all the right ingredients to take Aston Martin to even greater heights. "I have long held a passion for Aston Martin motorcars. This truly is a new era, perhaps a new chapter in the extraordinary story of Aston Martin." He continued: "The car industry and the car business requires long-term investment. You cannot come in and out in a few years." He said the company was a profitable business but added: "It's got a long, long way to go." In the 1990s, Aston Martin was producing as few as 46 cars a year. But under the leadership of Ulrich Bez annual production has soared to 7,000. Mr Bez is to remain as chief executive. He said: "This new partnership is a tremendously exciting opportunity for Aston Martin. "We have a deal and we have a good deal. We are all grateful to Ford Motor Company who have enabled us to grow and flourish to the level we are now." The consortium also includes John Sinders, a banker in finance and shipping from Houston, Texas and Dubai in the Middle East. He is an Aston Martin owner with a great affection for the brand on both road and track. The consortium is completed by two Kuwaiti companies - Investment Dar and Adeem Investment. Ford said that it would retain a £40 million investment in Aston Martin. The company also said it had no plans to sell its other UK-based companies - Land Rover and Jaguar. Ford's president and chief executive Alan Mulally said: "(The) announcement is good for Ford Motor Company, good for Aston Martin and good for the UK. We wish Aston Martin every possible success for the future." Aston Martin moved its headquarters from Newport Pagnell in Buckinghamshire to Gaydon in 2003. Production at Newport Pagnell, where the Vanquish S model is made, will cease in July although the service and restoration department will stay on there. The first screen James Bond - Sean Connery - drove an Aston Martin DB5 in the 1964 Bond movie Goldfinger. Versions of the car also appeared in a number of other 007 films, including Thunderball, The Living Daylights, Goldeneye and Die Another Day. Professor Garel Rhys, director for the Centre for Automotive Industry Research at the Cardiff University Business School, said: "Aston Martin is a company that is well organised, well run and making good profits. Whether it can sustain this, only time will tell. "My one worry is the fact that no matter how exclusive a product you are producing, you will find it very difficult to survive as a small company on your own. "Even top brands like Lamborghini, Ferrari and Maserati have had to ally themselves with large partners."
