Group invests £150m in Aston Martin
The 1964 Aston Martin DB5, made famous in the James Bond movies "Goldfinger" and "Thunderball"
Luxury carmaker Aston Martin has announced that a new shareholder is to invest £150 million in the firm for a 37.5 per cent stake.
European investment group Investindustrial will become a major shareholder in the business, based in Gaydon, Warwickshire.
Aston Martin said it was also receiving support from Kuwaiti group Investment Dar.
The car firm's chairman, David Richards, said: "I am delighted that Investindustrial has decided to become a major investor in Aston Martin.
"With the support of the Investment Dar, we have made substantial progress over the past five years in laying the foundations for success as one of the world's leading luxury sports car manufacturers.
"Investindustrial's new investment reflects and sustains the unique position of Aston Martin within the industry.
"With this partnership and the continued commitment of the Investment Dar, we look forward to working with our shareholders as we realise our vision and exciting future plans."
Andrea C Bonomi, senior principal at Investindustrial, said: "We are delighted to form part of this iconic global, but quintessentially British, brand.
"We are looking forward to working with the management and Investment Dar to achieve a similar transformation and rejuvenation that we achieved with Ducati, by expanding the model range and strengthening the dealership network throughout the world."
Adnan Al-Musallam, chairman and managing director of the Investment Dar, said: "We welcome Investindustrial as new partners in our collaboration with Aston Martin.
"With our continued commitment and the support of Investindustrial, Aston Martin is in a strong position to pursue its plans for development."
Aston Martin said it planned to invest half a billion pounds in new products and technology over the next five years.
"The 1950s saw the first big wave of 3D films, but the novelty wore off. Sixty years later, 3D may be back to stay as the technology goes mainstream."
- What to Specialise in Electronics Engineering?? [03:02 am 03/04/14]
- Britain to have just one remaining coal pit by the end of 2015 [01:11 am 03/04/14]
- LV Generator Star point earthing - UK [08:35 pm 02/04/14]
- East West Rail - the Oxford to Bedford route [07:33 pm 02/04/14]
- Small nuclear power [06:06 pm 02/04/14]
The essential source of engineering products and suppliers.