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Mecachrome denies F1 withdrawal

NEWS STORY
22/08/2008

Mecachrome has tonight issued a denial following claims in a Swiss publication, and subsequently repeated by Global Motorsports Media (GMM) - an Australian-based F1 website content supplier - that it is withdrawing from Formula One after announcing deepening financial losses.

The statement reads as follows:

"Mecachrome France categorically refutes the news report, first published in Swiss-based Motorsport Aktuell and repeated on August 18, 2008 in Global Motorsports Media and on Update F1.com, that the Company is withdrawing from Formula 1 racing following Renault's decision to supply its own high-performance components.

The agreement entered into by these two companies continues to run its course and Mecachrome is, at present, actively cooperating in the development of these high-performance components for Renault."

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