OCTOBER 17, 2002
What happens to Asiatech?
The news that Asiatech has been unable to move to the second phase of its plans to become a Formula 1 team means that there is no reason for the company to remain in operation. This is bad news for the 200 people at Velizy, in the southern suburbs of Paris.
However, there is little doubt that Asiatech is an asset with some considerable value, if the right buyer can be found. The F1 engines may not have been the most powerful in F1 in recent years but the team of engineers is an experienced one, having worked together as Peugeot Sport before the operation was purchased by Asiatech in 2000.
Given the financial situation in the world at the moment it is possible that the operation will be allowed to fall apart but there is also a strong possibility that someone will come in and buy the company and look at ways to make money from it in the future.
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