Formula 1 newcomers Haas F1 has completed the purchase of former team Marussia's Banbury factory and named its new management team as it gears up for its debut in the sport in 2016.

The Banbury factory, in Oxfordshire, will act as the American team's European headquarters to improve logistic connections between its North Carolina base and Europe. The team has confirmed construction of the team's equipment is underway and once completed the Haas F1 team will move in to the factory.

In addition to the Banbury factory, Dave O'Neill has been named as team manager, Rob Taylor as chief designer and Ben Agathangelou as chief of aerodynamics.

O'Neill has joined from Marussia and will be in charge of personnel recruitment, equipment management and will oversee car design. O'Neill was team manager of former F1 team Jordan Grand Prix from 1998 through 2005 before moving into A1GP.

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Taylor has also joined from Marussia, where he was deputy chief designer before the team fell into administration and transformed into Manor.

The designer has previously worked for McLaren, Red Bull, Toro Rosso and Jaguar's head design team over the past 13 years. Talyor possesses a wealth of F1 experience and will celebrate his 28th season in Formula 1 next year, beginning with Cosworth in 1987.

Agathangelou has joined Haas F1 Team from Ferrari and also possesses a vast amount of experience working in elite level motorsport racing.

Agathangelou has previously worked with Dallara as well as working on technical upgrade work in GP2, Formula Renault series and Indycar chassis designs. The designer has also worked for Jaguar and Red Bull as head of aerodynamics between 2002 and 2007. Agathangelou held the same role with Renault F1/Benetton from September 1999 to March 2002.

Gunther Steiner, team principal of Haas F1 team, says the road ahead of the team is still a long one but it is bringing in the right people to drive the team in the right direction.

"While there is still a lot of work to do, a lot has already been accomplished for Haas F1 Team to be competitive when we join the F1 grid in 2016," said Steiner. "Our technical partnership with Ferrari has allowed us to develop our car and our people at an exceptional pace.

"The way we're going about our F1 team is new and different, but it's working. We're committed to our plan, we're committed to F1 and, most importantly, we're on schedule. This time next year, our cars will have already been tested and we'll be readying them for Melbourne."

Haas F1 team are expected to make its Formula 1 debut in 2016, with this season's Australian Grand Prix marking a year to go.