09 May 2002
Nearly all the assets and intellectual property of failed UK motorsport supplier Reynard have been acquired by British companies, its receivers said.
Formula One team BAR and a International Racing Management were the two main buyers.
Gareth Roberts, one of the receivers from Hurst Morrison Thomson, said: "That's got to be good for the UK motorsport industry's supply chain".
The company's demise comes after Chris Aylette, the head of Britain's Motorsport Industry Association, called for more suppliers to help maintain innovation and the sector's world-class status.