Cosworth for sale
Discussion
http://www.autosport.com/news/report.php/id/103495
Autosport said:
Formula 1 engine supplier Cosworth has put itself up for sale after relinquishing hopes of floating on the stock market.
The Times newspaper reports Cosworth had instructed JP Morgan Cazenove to seek an initial public offering some 18 months ago, but the move has been ruled out because of the instability of the market.
"We have been paused for the last 18 months and the board has decided that we can not wait any longer otherwise we risk losing momentum," Tim Routsis, Cosworth's chief executive, was quoted as saying by the Times.
The report speculates that Cosworth, funded in 1958, could be bought by Rolls-Royce or aerospace company GKN.
Cosworth currently supplies engines to the HRT and Marussia teams and has said in the past that it is willing to stay in Formula 1 beyond 2013, when the engine regulations will change.
"We are ready to supply engines for 2014," Cosworth's general manager of F1 Kim Spearman told AUTOSPORT in September.
"Initial discussions have been had with some people, and I think by the end of September we would like to know where we are. But I don't think we have to have all the t's crossed and the i's dotted by then. It can go a little bit longer than that."
The Times newspaper reports Cosworth had instructed JP Morgan Cazenove to seek an initial public offering some 18 months ago, but the move has been ruled out because of the instability of the market.
"We have been paused for the last 18 months and the board has decided that we can not wait any longer otherwise we risk losing momentum," Tim Routsis, Cosworth's chief executive, was quoted as saying by the Times.
The report speculates that Cosworth, funded in 1958, could be bought by Rolls-Royce or aerospace company GKN.
Cosworth currently supplies engines to the HRT and Marussia teams and has said in the past that it is willing to stay in Formula 1 beyond 2013, when the engine regulations will change.
"We are ready to supply engines for 2014," Cosworth's general manager of F1 Kim Spearman told AUTOSPORT in September.
"Initial discussions have been had with some people, and I think by the end of September we would like to know where we are. But I don't think we have to have all the t's crossed and the i's dotted by then. It can go a little bit longer than that."
AlexS said:
I just love articles like that. Possible buyer is Rolls-Royce. Which one do they mean? The successful aerospace company (possible if GKN is listed though I would have thought unlikely) or the German owned kit car assemblers with the teletubbies HQ?
and which cosworth would they buy 
350Matt said:
there is only one Cosworth?
Has been one company since 2005 when it was bought off Ford by its current owners?
There were 2 Cosworths but the road car division that was sold off to VW/Audi in 1998 is now called Mahle Powertrain so there is only the one Cosworth now.Has been one company since 2005 when it was bought off Ford by its current owners?
In 2004 Ford sold the Cosworth racing arm to Champ Car World Series owners Gerald Forsythe and Kevin Kalkhoven, this is the current Cosworth Group of the story above who make the F1 engines - http://www.cosworth.com/
f1 engine manufacturers have been making profit since the engines rules have stated that the engines are homologated as this reduces r+d, i suspect cosworth see that with engine rules changing they about to become massively in debt. and even worse they could be so uncompetitive with the new rules that no one want a cosworth engine anymore. any potential buyer for cosworth will need good resources to carry on supplying engines into 2014 and beyond.
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