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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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Ford Sells Aston Martin For $848 Million
Ford Sells Aston Martin For $848 Million
By Amy Radishofski, Staff Reporter, Manufacturing.net Manufacturing.Net - March 12, 2007 Ford Motor Co. announced Monday that it has sold its Aston Martin sports car business to David Richards, John Sinders, Investment Dar and Adeem Investment Co. in a deal valued at $848 million. Ford will retain a $77 million investment in Aston Martin, valuing the entire company at $925 million, but no other terms of the transaction were disclosed. In August 2006, Ford had announced that it would explore strategic options for Aston Martin as part of its restructuring plan. The deal is expected to close in the second quarter. “The sale of Aston Martin supports the key objectives of the company, to restructure to operate profitably at lower volumes and changed model mix and to speed the development of new products,” said Alan Mulally, Ford’s president and CEO. “From Aston Martin’s point of view, the sale will provide access to additional capital, which will allow Aston Martin to continue the growth it has experienced under Ford’s stewardship.” David Richards is chairman of Prodrive, a motorsport and automotive technology company; John Sniders is an Aston Martin collector and backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co. are international investment companies based in Kuwait.
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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03-12-2007, 12:49 PM
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Join Date: Jan 2004
Location: Docking Bay 94
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Looks like it is in good hands.
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Kurt |
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03-12-2007, 12:52 PM
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Join Date: Oct 2006
Location: Colorado, USA
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These small mfrs have been bought and sold by large car companies before.
Lambo comes to mind, it was once sold to a small, rich (Indonesian) investment group, but that didn't work and now it's owned by VW. Has there EVER been an example of a niche car company being sold to an investment group, and having it actually work out? The odds seem highly against it. Even with Ford's enormous resources, Aston didn't work out. Hard to see how it's going to work with some "enthusiasts" and an investment company. Yeah, the investment company probably has some good money, but they *are* an "investment" company and will expect a return after some point. |
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03-12-2007, 01:06 PM
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Join Date: Dec 2002
Location: London
Posts: 1,831
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I think you'll find Prodrive a bit more than a group of 'enthusiasts'..
True they are not a car producer even in the niche sense but they have been building cars for a while...like all the WRc Subarus..and before that various SCRS's and 959 rally cars for Porsche plus consulting work for a number of various people...and a fair few racing cars....in addition they are going into F1 next year... It may or may not work put but not thro lack of knowledge and ability on a professional level... |
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03-12-2007, 02:07 PM
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Location: Long Beach CA, the sewer by the sea.
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Quote:
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03-12-2007, 03:23 PM
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