Cosworth, the world’s leading performance technology specialist announced today that it will be supplying engines to three teams on the Formula 1 grid commencing in 2010 a return to the pinnacle of motorsport competition. Cosworth is delighted to be continuing its 39 year association with one of the most challenging sports after a gap of 3 years during which time the business has undergone a radical change in strategy that has remodeled Cosworth to become a leading technology supplier to blue chip customers in the aerospace, defence,automotive, marine and energy generation markets.
Cosworth embarked on the journey of diversification over four years, recognizing the reliance on a single
market income stream was perilous for the business. The transition into adjacent markets, whilst challenging, has proven to be the right strategy for Cosworth to secure a long term future. Tim Routsis, Cosworth Group Chief Executive "By understanding that Cosworth’s competitive advantage lies in our ability to react rapidly to a changing
world, we have been able to transfer our electronics and precision fabrication technologies to challenges
in adjacent markets that have previously been considered beyond the capability of incumbent suppliers."
Cosworth operates as a development partner to many of its major customers with the likes of Rolls Royce, Aston Martin and BAE Systems among Cosworth’s ongoing relationships. This enables rapid development that in most cases delivers effective leading edge solutions that reduce both cost and lead time for the end customer. "That Cosworth have been able to respond so rapidly to the challenges faced by teams wishing to enter Formula 1 and deliver a package that will enable them to compete for the championship while remaining financially within their means, is a testament to the Group’s ingenuity, determination and flexibility."
The Cosworth Group is now expanding its successful business footprint by establishing a facility in Pune,