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15/11/2004
F1 racing team Jaguar bought by Red Bull
Ford's Formula One (F1) racing team, Jaguar Racing, has been sold to the Austrian drinks firm Red Bull, it has been revealed.
Ford also announced today that it has secured the sale of Cosworth, its motorsport technology engineering company and supplier of F1 engines.
Ford said that it would now concentrate its efforts to improve the results of Jaguar Cars and the Premier Automotive Group.
Cosworth's new owners, Kevin Kalkhoven and Gerald Forsythe, co-owners of the Champ Car World Series, will continue to supply engines to the F1 Jaguar team, "thereby helping to ensure a positive future" for the company.
This announcement, together with the news that Minardi will also be using Cosworth engines in 2005, "helps underpin Cosworth's long and ongoing role as an F1 engine supplier", the company said.
Ford Europe's executive vice president Mark Fields said: "Having taken the tough decision to exit Formula One after over 35 years in the sport, our focus has been to secure the best future for our Formula One businesses and our employees."
Red Bull was a sponsor of Jaguar Racing in 2004, and has been involved in F1 and global motorsport for over a decade.
In other F1 news today, Toyota confirmed that they would be supplying Jordan Grand Prix with engines for the 2005 season. An engine supplier for Eddie Jordan's team had been in doubt following Ford's decision to offload F1 engine maker Cosworth. The one-year contract will see Toyota supply customer RVX-05 engines to Jordan.
(gmcg/sp)
Ford also announced today that it has secured the sale of Cosworth, its motorsport technology engineering company and supplier of F1 engines.
Ford said that it would now concentrate its efforts to improve the results of Jaguar Cars and the Premier Automotive Group.
Cosworth's new owners, Kevin Kalkhoven and Gerald Forsythe, co-owners of the Champ Car World Series, will continue to supply engines to the F1 Jaguar team, "thereby helping to ensure a positive future" for the company.
This announcement, together with the news that Minardi will also be using Cosworth engines in 2005, "helps underpin Cosworth's long and ongoing role as an F1 engine supplier", the company said.
Ford Europe's executive vice president Mark Fields said: "Having taken the tough decision to exit Formula One after over 35 years in the sport, our focus has been to secure the best future for our Formula One businesses and our employees."
Red Bull was a sponsor of Jaguar Racing in 2004, and has been involved in F1 and global motorsport for over a decade.
In other F1 news today, Toyota confirmed that they would be supplying Jordan Grand Prix with engines for the 2005 season. An engine supplier for Eddie Jordan's team had been in doubt following Ford's decision to offload F1 engine maker Cosworth. The one-year contract will see Toyota supply customer RVX-05 engines to Jordan.
(gmcg/sp)
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18 January 2005
Trade and Industry Secretary praises British firms behind Airbus A380
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Trade and Industry Secretary praises British firms behind Airbus A380
Trade and Industry Secretary, Patricia Hewitt, has praised the four hundred British manufacturing firms who helped to deliver the world's biggest civil aircraft, which has been unveiled in France. The building of the Airbus A380 was the largest civil aviation project in the world.
11 November 2004
Future of F1's British Grand Prix is secured
The British motorsport industry has the "opportunity to further enhance its reputation as a world leader" after the future of the British Grand Prix at Silverstone was secured, according Sports Minister Richard Caborn. He was speaking after it was confirmed that, with 19 races now on the 2005 Formula One calendar, the British Grand Prix is secure.
Future of F1's British Grand Prix is secured
The British motorsport industry has the "opportunity to further enhance its reputation as a world leader" after the future of the British Grand Prix at Silverstone was secured, according Sports Minister Richard Caborn. He was speaking after it was confirmed that, with 19 races now on the 2005 Formula One calendar, the British Grand Prix is secure.
05 March 2013
Jaguar Invests £500m In Manufacturing
Jaguar Land Rover will reinforce its commitment to manufacturing in the UK by increasing the investment in its new Engine Manufacturing Centre to more than £500 million. In addition, Jaguar Land Rover will invest £2.
Jaguar Invests £500m In Manufacturing
Jaguar Land Rover will reinforce its commitment to manufacturing in the UK by increasing the investment in its new Engine Manufacturing Centre to more than £500 million. In addition, Jaguar Land Rover will invest £2.
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