Ford agrees to sell Aston Martin

Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.

"This new partnership is a tremendously exciting opportunity for us," said Ulrich Bez, Chief Executive of Aston Martin. "Under the ownership of Ford we have become a successful, profitable company and I will be working with the new owners to build on this great foundation. It is a new beginning which will give the company the opportunity to attain an even higher level of excellence. This next stage in the company's history promises to be the most exciting yet. David Richards and I have a great deal of mutual respect for each other and we are equally passionate about realising the brand's full potential." 

Last year Aston Martin produced 7,010 cars, up from just 644 cars in 1997 and plans to add another 1,000-2,000 cars with the introduction of the Rapide four-door sedan in 2010. The Rapide was previewed at the NAIAS in 2006, designed by Chief Designer Marek Reichmann.

Aston Martin will remain at its high tech production facility at Gaydon in Warwickshire, a purpose-built facility where a skilled workforce of 1800 employees have helped gather numerous awards from the automotive and design industries in the past five years. Aston Martin is one of the world's leading sports car manufacturers.

Founded in 1914 by Lionel Martin and Robert Bamford, the company has been responsible for some of the most evocative automobiles of all time. Aston Martin has evolved into a prestige manufacturer with class-leading products and perhaps the most high profile automotive brand name in the world.

Two Aston Martin models - the V8 Vantage and DB9 - were voted 'Best Current Production Design' last year by Car Design News readers. The current model line-up of the award-winning V8 Vantage, DB9, DB9 Volante and Vanquish S and V8 Vantage Roadster will soon be enhanced by the eagerly awaited high performance DBS model, as seen in the latest James Bond movie, Casino Royale.

Related stories:
Aston Martin Rapide concept - Detroit 2006
Car Design News Reader Survey 2005: Best Production Car

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