Asiatech power for Minardi in 2002.

European-Minardi F1 today announced that it has reached agreement with Asiatech for the supply of its new AT02 Formula One engine for 2002.

The advanced V10, which is lighter, dimensionally smaller and more powerful than the engine used by European Minardi this season, will be provided to the team on an exclusive basis next year, with an option to continue the arrangement beyond that. The first engine will be delivered shortly to European Minardi's Faenza base, where work on the 2002-specification PS02 chassis is now well advanced.

John Gano - President of Asiatech - said: "Asiatech is announcing today that we will supply engines to European Minardi in 2002, with a possibility of extending for 2003. We look forward to a very positive and productive 2002 season working together with European Minardi to place both companies in a stronger and more competitive position in the F1 hierarchy."

Minardi boss Paul Stoddart added: "European Minardi F1 is delighted to welcome Asiatech as its official engine partner. Before arriving at this decision, we studied all aspects of the company's new AT02 engine in detail and believe it represents a significant step forward for us. The partnership with Asiatech is an exciting development for European Minardi and one that we believe will result in much-improved performance from the team in the near future."