Aston Martin: ‘It’s business as usual’Mar 19, 2007
The company, whose Newport Pagnell plant manufactures the Vanquish model and houses the works service operation, has been sold by Ford to a consortium led by David Richards, John Sinders, Investment Dar and Adeem Investment.
Production of the Vanquish is due to cease in July but Aston Martin will retain its works service division at the factory in Tickford Street, which employs 250 people.
A spokesman said: "It is business as usual. Plans have not changed." Work is to begin this month on a limited edition Vanquish model the Ultimate, of which only 40 will be made, he added. These will be the last cars manufactured at Newport Pagnell.
The new owners are a consortium of investors who are committed to the brand, its success and existing business plan which envisages growth, profitability and new products, including the four-door concept Rapide. Dr Ulrich Bez (pictured) remains as chief executive after overseeing Aston Martin’s move its headquarters from Newport Pagnell to Gaydon in Warwickshire, new products, a motorsport programme and a strong corporate identity throughout the expanding dealership network.
David Richards is founder and chairman of motorsport and automotive engineering company Prodrivey. He will join the board of Aston Martin as non-executive chairman.
Mr Richards said: "This is an incredible opportunity – Aston Martin is one of the world’s most iconic brands. We are confident we now have all the right ingredients to take it to even greater heights."
Investment Dar and Adeem Investment are companies based in Kuwait while John Sinders is an Aston Martin owner and a Texan banker in finance and shipping.
Dr Bez said: "This new partnership is a tremendously exciting opportunity for Aston Martin. Under the ownership of Ford we have become a successful, profitable company and I will be working with the new owners to build on this great foundation.
"It is a new beginning which will give the company the opportunity to attain an even higher level of excellence."
Aston Martin will remain at its high-tech production facility at Gaydon in Warwickshire, a purpose-built facility with a skilled workforce of 1,800 employees. Its works service division will remain at Newport Pagnell.
Founded in 1914 by Lionel Martin and Robert Bamford, the company has been responsible for some of the most evocative automobiles of all time. Aston Martin has evolved into a prestige manufacturer with class-leading products and perhaps the most high profile automotive brand name in the world.
Voted the UK’s coolest brand in 2006, Aston Martin has an expanding dealership network of 126 dealers representing in 27 countries.