News Details
Cosworth seeks buyer
After abandoning plans for an IPO (Initial Public Offering) due to adverse market conditions, F1 engine supplier Cosworth is now actively seeking a buyer.
Cosworth was bought from Ford eight years ago by US-based Gerry Forsythe and Kevin Kalkhoven and expanded its business base into the aerospace and defence industries as well as automotive consultancy and race engine supply.
The company was founded in 1958 by Mike Costin and Keith Duckworth and can boast 176 F1 victories. Current chief executive Tim Routsis told the British Times newspaper: "We have been paused for the last 18 months and the board has decided that we cannot wait any longer otherwise we risk losing momentum."...
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13y ago from GrandPrix.com
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