DECEMBER 20, 2004
Ford sells Pi Group to Kalkhoven and Forsythe
The Ford Motor Company has sold the Pi Group to Kevin Kalkhoven and Gerry Forsythe, co-owners of the Champ Car World Series and heads of the PKV and Forsythe Championship Racing Champ Car teams, respectively.
Pi Group is the last of Ford Motor Company's three businesses with an interest in F1 to be sold following the Company's decision to exit the sport in September 2004. In November, Jaguar Racing Limited was purchased by Red Bull, while Cosworth Racing was bought by Kalkhoven and Forsythe.
"This was a logical step for us following our recent acquisition of Cosworth," said Kevin Kalkhoven. "Electronics are increasingly important in motorsport and in the automotive industry. Pi Group will play an important part in our business plans going forward."
The Pi Group, which was founded by Tony Purnell, has operations in Milton and in Cottenham near Cambridge, and in Indianapolis, Detroit and Charlotte. It employs 320 people. Pi Research designs and manufactures electronics and software for use in motorsport while Pi Technology is a world leader in automotive electronic systems development.
|Print News Story|