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German company buys Super Aguri

NEWS STORY
30/07/2008

Formtech GmbH, a German company which specialises in manufacturing for the aviation and automotive industry, has bought the assets of Super Aguri.

The Leafield-based F1 withdrew from the 2008 Formula One World Championship after just four rounds following the collapse of a buy-out by a Dubai-based consortium.

In a brief statement, Franz Hilmer, managing director of Formtech GmbH, said: "With our plans of company growth and manufacturing expansion, the location at the Leafield Technical Centre enables us to establish a presence in an important geographical area for motor sport engineering.

"We shall be employing a number of ex-Super Aguri staff who are experienced in the field of composite design and manufacturing and make full use of the site's spacious facilities and up-to-date machinery.

"A further goal of Formtech is to attract suitable individuals and companies with aspirations of running their own motor sport team to purchase the F1 race equipment from Formtech."

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