(GMM -- Dec.21) With another (approx.) $10 million in the cash chest, Ford has completed its total retreat out of Formula One.
Champ Car co-owners Kevin Kalkhoven and Gerry Forsythe, who secured F1 engine supplier Cosworth Racing in November, have also bought Pi Group, the electronic racing arm.
''This was a logical step for us,'' Kalkhoven said in a statement. ''Electronics are increasingly important in motorsport and in the automotive industry.''
More than 300 people, in Cambridge (UK) and Indianapolis, Detroit and North Carolina (USA) work for Pi.
Written: Tue, 21 Dec 2004 10:31:01
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- November 15, 2004The end of an era
- November 12, 2004Ford go silent
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- November 02, 2004Ford have no clue about F1
- October 28, 2004Cosworth sale complete
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- (December 21, 2004)View all headlines from this date
