According to reports in the financial media, F1 engine supplier Cosworth could soon be floated on the stock exchange.<\/p>\n
The reports estimated the value of the flotation at about (US) $360 million, following the famous British marque’s return to F1 with Williams and all three of the new teams.<\/p>\n
Main investors Gerald Forsythe and Kevin Kalkhoven, who bought Cosworth from Ford in 2004, are reportedly considering the move as profits are expected to surge from $2m in 2008 to more than $70m this year.<\/p>\n
The reports said auditor Deloitte may have been hired for the initial public offering, and a source admitted that business has picked up dramatically since the company laid off 200 staff when it dropped out of F1 at the end of 2006.<\/p>\n
The Northampton Chronicle quoted a spokesman as saying on Tuesday: “As with any company that enjoys a particularly successful period, there is speculation that they will float.\u00a0 Those things go hand in hand.”<\/p>\n
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