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12/03/2007
Aston Martin on the road home
Aston Martin is on course to return to the hands of a British consortium.
The leading luxury sports car marque has been bought for £475 million by a consortium of bidders fronted by Prodrive owner Dave Richards.
The sale by Ford, which owned a majority share of Aston Martin since 1987, will see the factory employing 1,800 remain at Gaydon.
Dave Richards, 54, a motorsports legend, described Aston Martin as "one of the world's most iconic brands" and promised to take the marque to even greater heights.
The company which was founded in 1913 was sold to American interests in 1975, eventually winding up in the hands of industry giant Ford, which has recently been divesting interests and making cutbacks in a bid to return to profitability.
Mr Richards' firm Prodrive manages the Aston Martin sports car racing team. He will sit on the Aston Martin board as non-executive chairman.
Aston Martin's current boss Ulrich Bez will be CEO of the firm that has become associated with the Bond 007 movie franchise as the British agent's fast sports car of choice and an 'Aston' features in the latest Bond film Casino Royale.
(SP/KMcA)
The leading luxury sports car marque has been bought for £475 million by a consortium of bidders fronted by Prodrive owner Dave Richards.
The sale by Ford, which owned a majority share of Aston Martin since 1987, will see the factory employing 1,800 remain at Gaydon.
Dave Richards, 54, a motorsports legend, described Aston Martin as "one of the world's most iconic brands" and promised to take the marque to even greater heights.
The company which was founded in 1913 was sold to American interests in 1975, eventually winding up in the hands of industry giant Ford, which has recently been divesting interests and making cutbacks in a bid to return to profitability.
Mr Richards' firm Prodrive manages the Aston Martin sports car racing team. He will sit on the Aston Martin board as non-executive chairman.
Aston Martin's current boss Ulrich Bez will be CEO of the firm that has become associated with the Bond 007 movie franchise as the British agent's fast sports car of choice and an 'Aston' features in the latest Bond film Casino Royale.
(SP/KMcA)
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Britain's fastest speed offender awaits sentence
Sentencing has been deferred in the case of the driver who is thought to be Britain's fastest speeding offender. Jason McAllister, 27, from Aberdeen, was clocked in a BMW sports car driving at a speed of 156.7mph along a dual carriageway between Aberdeen and Dundee. The legal driving limit was 70mph.
Britain's fastest speed offender awaits sentence
Sentencing has been deferred in the case of the driver who is thought to be Britain's fastest speeding offender. Jason McAllister, 27, from Aberdeen, was clocked in a BMW sports car driving at a speed of 156.7mph along a dual carriageway between Aberdeen and Dundee. The legal driving limit was 70mph.
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