Huge cash injection for Aston Martin
Industry news / 07 Dec '12, 3:42pm
Leading European investment firm Investindustrial has taken a 37.5 percent stake to become a major shareholder, along with The Investment Dar, in struggling English sports-car company, in the form of a £150 million (R2.2 billion) cash investment.
The cash injection will make it possible for Aston Martin to implement plans for what it calls "extensive and exciting plans for sustainable long-term growth." The company plans to invest more than £500 million (R7 billion) in its new product and technology programme over the next five years.
Aston Martin production will stay at its headquarters at Gaydon in Warwickshire, a purpose-built facility where 1600 craftsmen and women assemble the current range of sports cars. The iconic brand, founded on January 15, 1913 by Lionel Martin and Robert Bamford, will celebrate its centenary in less than six weeks.
Investindustrial is no stranger to the automotive industry; at one time it owned legendary Italian motorcycle manufacturer Ducati, now part of the Audi stable.