Tier 1 engine component and filter supplier, Mahle Group, has acquired Cosworth Technology Ltd. from Audi AG in a move the company hopes will help take it a further step towards becoming a system supplier of engine technology and engine systems.
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Mahle will obtain two engine development centres – one in Northampton, UK – Cosworth Technology Ltd., and one in Novi, Michigan, USA – Cosworth Technology, Inc. In addition it will acquire two small-scale manufacturing locations in the UK, which machine cylinder heads and blocks and assemble engines. Cosworth Technology employs 970 people and generated a turnover of around €23m in 2003.
One of the reasons for the sale was the fact that the business was finding it difficult selling its engineering services beyond the Volkswagen Group.
“Cosworth Technology, which played a key role in the development of our hugely successful Audi RS6 model, will remain a supplier of powertrain engineering and niche machining and assembly services to the Audi Group”, commented Dr. Jochem Heizmann, Board Member for Production at Audi AG AG and Chairman of the Supervisory Committee of Cosworth Technology Ltd. “Under Mahle’s ownership, Cosworth Technology will also be better placed to win new contracts from other automotive OEMs.”
Susan Brown
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