Filed under: Motorsports, Hirings/Firings,
Mercedes Benz, Earnings/Financials
When
Mercedes-Benz bought out controlling interest in AMG in 1991, its founder Hans-Werner Aufrecht was allowed to set up a separate enterprise to continue its motor racing activities in cooperation with
Mercedes-Benz. So the firm bearing his initials HWA was born, and they continue to field
Mercedes AMG cars in the popular DTM touring car series and producing the
Mercedes Formula 3 engine for purchase by private teams.
Aufrecht has remained at the helm of the company ever since, but pushing 68 as he is, HWA is looking towards the future. In order to raise funds to secure the company's continued viability, HWA is floating five million shares and searching for a successor to Aufrecht, having invited former
Mercedes CEO Jurgen Hubbert to chair their board. All the common enthusiast sees is
Mercedes taking checkered flags - the news gives us a rare glimpse into the inner workings of the
Mercedes sphere and their racing activities.
[Source: GrandPrix.com]
