Aston Martin is not going to unite with other car companies

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Aston Martin is not going to unite with other car companies

Within his recent interview, the current Executive Director of the British brand, Andy Palmer said that the automaker will not unite with other players in the market.

Last week in the report of the foreign edition Autocar stated that canadian billionaire Lawrence Strol may be interested in a major investment in the British car company Aston Martin. British manufacturer experiencing financial difficulties at the present time – recently, the official representatives of the company said that the loss of the brand in the first half of 2019 amounted to £ 80 million at current exchange rates. It turns out that this information may be incorrect, as reported by the Executive Director of the automaker, Andy Palmer.

“You know, if we really had such huge financial problems, we would most likely turned to the help of some investors, but so far nothing of the kind. Nothing more I will not comment,” said Mr Palmer in an interview with Reuters during the opening of a new plant in Wales.

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Currently, the 106-year-old British company based in Gidona, is owned by several parties, including the Kuwaiti joint group Adeem/Primewagon, which owns 36 percent of the shares, the shareholder of Morgan InvestIndustrial owns 31 percent, while Daimler owns a 4 percent stake in the firm. Aston Martin plans to double its global sales by 2022 to 14,000 cars sold in a year but needs financial assistance to it, as noted by the representatives of the company, helped and accelerated the process.

Although many companies in the industry believe that the consolidation (merger) is a way to survive these days, Andy Palmer is convinced that Aston Martin don’t need to belong to a larger automotive group. Meanwhile, a small proportion of the shares of the Daimler brand in this brand gives Brits access to modern technology, the German automaker without the need for major investments in independent study.

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