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Aston has been sold
Topic Started: Mar 12 2007, 02:14 PM (1,018 Views)
Startline Ed
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Engineer
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http://news.bbc.co.uk/1/hi/business/6442101.stm

Here is the confirmation. It has gone to good hands in my opinion
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u4coffee
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Yup :)
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John
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I can't fault Dave Richards pedigree... and as consortium's go... Kuwaiti investors will not be short of the kind of money needed to invest... So it has the hallmarks to be a great move for Aston-Martin... <clap>

I find it interesting in that It will be hailed as returning to British ownership again... when it seems to me a lot of the ownership will be Kuwaiti <whistle>
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The Saint
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Wow so Britain will have a Motor Industry once again!

Actually I was researching motor vehicles for the UK market this weekend and I noticed Nissan stopped selling the Primera and Almera!

Which is quite sad to me, as I helped set up the production lines for those two vehicles (well the Almera actually shared the Micra production line).

You sure have some funky looking cars over there these days!

The Vauxhall (OPEL) Astra is being released over here in the States and sold as the Saturn Astra, Saturn have been selling the Vectra over here for some time – with modifications, but the Astra is more or less a straight transfer – with a slightly different grill.

http://www.leftlanenews.com/wp-content/plu...770&idg=1&idi=1
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John
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REUTERS /Irish Times
 
The second-biggest US carmaker said today it would retain a €58.5 million investment in Aston Martin, and that it expected the deal to close during the second quarter of this year


So besides Richards and the Kuwaiti's.... Ford also has a stake.... <cool>
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The STIG
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Still, Fly the flag!

We have a british car maker again!
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John
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The Saint,Mar 12 2007
02:49 PM
Wow so Britain will have a Motor Industry once again!

The STIG,Mar 12 2007
03:20 PM
We have a british car maker again!

To my knowledge Aston Martin's have never been made anywhere else but the UK... and as far as I know other british car makers like Morgan have never stopped making cars in the UK....

Both of these companies are and have always been British... regardless of who owned them...

It seems some people would be happy to see a great Marque disappear than have it kept alive... and thrive... under foreign ownership....

sheer madness...
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The STIG
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Aston up to now has been American just built in Britian. same as Jaguar, Lotus (malasyan), TVR (Russian, and dead), and LDV (american, and vans). That meant that up till this deal, the biggest british car maker has been LTi. and they make Taxis!

Oh yeah, and there's been loads of smaller companies beneath them, but really, we need a big name back. now if Mr. Richards would be as so good as to purchase Jaguar and Land Rover off Ford, we shall have great cause to celebrate, and if someone could releive Lotus of Proton, more's the better.

GM can Keep Vauxhall though.
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John
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But what was the total production of Aston Martins... about 20,000 vehicles in more than 75 years... with it's best year being about 5,000

If you discount Morgan on volumes... Aston Martin is hardly an automotive behemoth... <think> is 5000 all that is needed to be classed having an Industry again.

Also the consortium who will own A-M are comprised of David Richards (UK) collector John Sinders (USA) Kuwait businesses Investment Dar Co. and Adeem Investment KSC. oh yes and FORD retaining about 8%...

So as a share of the company... Maybe 20% of Aston has returned to British ownership...

So to many people, me included... it always was seen as British just not owned... will this 20% be enough to make you happy to call it British.
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The STIG
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It's 20% more than there was before!
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theghostofnuvolari
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the thing about aston martin is that it is a car to be proud of, it is a marque that sits at the same table as ferrari and porsche.

the fact that it has been bought from the crippled tragic wreck of ford by a consortium lead by a brit can only be a good thing.

and quantity is largely irrelevent in the world of quality.

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The Saint
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I am not an expert but doesn’t the current AM’s run with Ford power plants? Will this partnership remain intact?
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The STIG
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The V8 Vantage runs a Jaguar (ford) V8 - built in my home town. Same engine as appears in Land rover Discoveries. Can't see that being effected too much since the other V12 engines they use are built in house anyway!
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John
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Ford Motor Corporation - Press release
 
DEARBORN, Mich., March, 12, 2007 – Ford Motor Company [NYSE: F] announced today it has entered into a definitive agreement to sell Aston Martin, its prestigious sports car business, to a consortium comprised of David Richards, John Sinders, Investment Dar and Adeem Investment Co. This transaction is the result of Ford’s decision, as announced in August 2006, to explore strategic options for the Aston Martin business as the company restructures its core automotive operations and builds liquidity.

The sale is expected to close during the second quarter and is subject to customary closing conditions, including applicable regulatory approvals. The transaction values Aston Martin at £479 million ($925 million). As part of the transaction, Ford will retain a £40 million ($77 million) investment in Aston Martin. Other terms and conditions specific to the sale are not being disclosed at this time.


I guess Ford retaining investment with an 8% stake plus the Other terms and conditions specific to the sale are not being disclosed at this time. may mean that A-M must buy it's any arrangements for parts supply are safe guarded.... for now.
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The Saint
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Well the lottery is up to 140,000,000 this week, if I win that, I will definitely buy an Aston Martin!
I think it is the more cerebral sports car anyway. The thinking mans Ferrari if you like!
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