The assets of the defunct Super Aguri F1 team – which went out of business earlier this year – have been purchased by a German tool design and construction company manufacturing high-precision parts for the automotive and Formula 1 industry.
Formtech GmbH has acquired the fixed assets of the small, Honda-satellite Leafield-based concern which campaigned in the top flight from 2006 until 7 May this year, when it was confirmed that the outfit had gone into administration.
Takuma Sato scored four points for the team over the course of its brief dalliance in the uppermost echelon, with a highlight of a superb sixth place – ahead of the McLaren-Mercedes of no less than former double world champion Fernando Alonso – in the 2007 Canadian Grand Prix.
Having bought the assets – on sale from Super Aguri's liquidators – Formtech intends to expand into the composite manufacturer and supplier market, and will use the squad's Oxfordshire base at the Leafield Technical Centre to open up its first UK operation.
Formtech hopes that by dint of being located in the heart of Britain's 'motorsport valley', the company will be able to forge business relationships within all areas of the sport, including the provision of composite parts to F1 teams.
“Formtech is pleased to be able to take advantage of this unique business opportunity,” underlined Franz Hilmer, managing director of Formtech GmbH. “With our plans of company growth and manufacturing expansion, the location at the Leafield Technical Centre enables us to establish a presence in an important geographical area for motorsport engineering.
“We shall be employing a number of ex-Super Aguri staff who are experienced in the field of composite design and manufacturing, and [will] make full use of the site's spacious facilities and up-to-date machinery.
“A further goal of Formtech is to attract suitable individuals and companies with aspirations of running their own motorsport team to purchase the F1 race equipment from Formtech.
“We would like to use this opportunity to thank Dr. Tritschler, Tritschler Corporate Finance Consult, Bad Soden, Germany, for the professional accomplishment of this transaction.”