Ford
To Explore Strategic Options For Aston Martin
DEARBORN,
Mich. - Ford Motor Company announced it has begun the process of
exploring strategic options for Aston Martin, with particular
emphasis on a potential sale of all or a portion of the unit.
"As
part of our ongoing strategic review, we have determined that
Aston Martin may be an attractive opportunity to raise capital
and generate value," said Chairman and Chief Executive
Officer Bill Ford. "Aston Martin Lagonda has flourished
under Ford ownership, which is why we believe it is prudent to
consider a sale of all or part of this prized brand. Since Aston
Martin's dealer network, product architecture and size are
distinctly different from other Ford brands, it is the most
logical and capital-smart divestiture choice. The objective of
any sale would be to position Aston Martin within a structure
and resource base sufficient to allow it to reach its full
potential, while enabling Ford to efficiently raise capital for
its other brands."
Mr.
Ford added, "Regarding our other Premier Automotive Group
brands, we've made no decisions, as our review of strategic
alternatives continues. However, we continue to be encouraged by
Jaguar's progress and by the strength and consumer appeal of the
Jaguar, Land Rover and Volvo product lineups."
The company said there can be no assurance that the decision to
explore strategic options for Aston Martin will result in any
transaction, which would be subject to Board approval. Ford
Motor Company, a global automotive industry leader based in
Dearborn, Mich., manufactures and distributes automobiles in 200
markets across six continents.
With about 300,000 employees and
more than 100 plants worldwide, the company's core and
affiliated automotive brands include Aston Martin, Ford, Jaguar,
Land Rover, Lincoln, Mazda, Mercury and Volvo.
Its
automotive-related services include Ford Motor Credit Company.
