SEPTEMBER 21, 1998
Ford completes purchase of Cosworth
AS we predicted last week Ford has now successfully completed the purchase of Cosworth Racing from Audi AG. The new company, which is wholly-owned by Ford, is to be called Cosworth Racing. It will remain in its current facilities in Northampton and will be headed by Dick Scammell - at least in the short term.
The move heralds a new era for Cosworth, which has been associated with Ford, but has always been independent, since it was established in 1959.
The intention is for Ford to use Cosworth for sport, its advanced vehicle technology programs and for training young engineers.
The Formula 1 plans for 1999 are already in place with Ford supplying different specification V10 engines to Stewart╩Grand╩Prix and Minardi. We expect to see many of the current Cosworth employees remaining at Northampton but with a new management being introduced in the course of the next 12 months in preparation for a more aggressive assault on the World Championship in the year 2000, almost certainly in partnership with the Benetton team.
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