September 1, 2006
Ford may sell Aston Martin
Dearborn, Michigan – The Ford Motor Company has 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,” says Bill Ford, Chairman and CEO. “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 company said there can be no assurance that the decision to explore options will result in any transaction, which would be subject to Board approval.