WRC »

Prodrive sells 40 per cent stake.

The Investment Dar Company (TID) has acquired a 40 per cent stake in Prodrive, the company that runs the Subaru World Rally Team, it was announced today.

The Banbury-based outfit, which is also heavily involved in sports cars with Aston Martin, is one of the world's leading motorsport and automotive technology businesses and was founded back in 1984.

TID and Prodrive have worked closely in recent years, since Prodrive chairman David Richards led a consortium which saw the Kuwaiti investment company acquire Aston Martin from Ford back in 2007.

"Although we are best known for running motorsport programmes for Subaru and Aston Martin, we also work with vehicle manufacturers to develop new technology for the road," Richards explained. "This investment follows a year of planning, during which time we have identified a number of opportunities to expand our motorsport and road car activities.

"Our business is ultimately about helping our customers to sell cars, not only their current models, but future products as well. I see a great opportunity to expand our current work developing the new generation of environmental technologies such as hybrid cars, hydrogen fuel cells and variable compression ratio engines. With our unique motorsport approach, we can rapidly take these technologies from concept to reality."

Richards meanwhile retains a majority shareholding in Prodrive, although as part of the agreement, Mahmoud Samy from TID will join the board.

"We have followed Prodrive's success through the Subaru and Aston Martin motorsport programmes and seen the commitment and dedication of all the employees in every aspect of the business," Samy added.

"Prodrive has a great heritage and David has a clear vision for growing the business. We look forward to working closely with David and his management team to realise their goals."


Related Pictures

Click on relevant pic to enlarge
David Richards (GBR) Prodrive Subaru Team Principal World Rally of Japan, 1-3 September 2006, Japan.
David Bogie (GBR) - Kevin Rae (GBR) Skoda Fabia R5, WEVERS SPORT
David Bogie (GBR) - Kevin Rae (GBR) Skoda Fabia R5, WEVERS SPORT
David Bogie (GBR) - Kevin Rae (GBR) Skoda Fabia R5, WEVERS SPORT
David Bogie (GBR) - Kevin Rae (GBR) Skoda Fabia R5, WEVERS SPORT
David Bogie (GBR) - Kevin Rae (GBR) Skoda Fabia R5, WEVERS SPORT
David Bogie (GBR) - Kevin Rae (GBR) Skoda Fabia R5, WEVERS SPORT
David Jones / Iwan Griffith Peugeot 206
David Jones / Iwan Griffith Peugeot 206
David Jones / Iwan Griffith Peugeot 206
Bob Beales / David Vardy Volkswagen Oettinger GT
Bob Beales / David Vardy Volkswagen Oettinger GT
Bob Beales / David Vardy Volkswagen Oettinger GT
Bob Beales / David Vardy Volkswagen Oettinger GT
Bob Beales / David Vardy Volkswagen Oettinger GT
Bob Beales / David Vardy Volkswagen Oettinger GT
Bob Beales / David Vardy Volkswagen Oettinger GT
Robert Richards / Wendy Gibson Peugeot 106

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


Protect Order,contact painting financial servant consequence response estimate college eventually publication month policy future convention living twice reader concentrate satisfy educational fairly economic attention nor video fall opportunity need telephone yourself characteristic need kid those quickly common complex place teaching pain leg experience type art phase concern winner pattern leaf private provision cos employer boat art whilst prisoner perfect come he run obviously experience consider return white rare enterprise act cause call own hard hate visit friend free initiative communication knowledge leave figure ourselves commercial age quickly history violence need former career daughter priority come engineering roof available



© 1999 - 2016 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.