TWR broke, but HRT never better: Crennan
15/2/2003 0:08 (V8 Wire - Jason Whittaker) -
V8 Supercar racing’s premier team, the Holden Racing Team, is under no threat, despite England-based parent company TWR Group Limited yesterday entering into receivership.
That was the message from the company’s Australian boss, John Crennan, in a statement released today, insisting the local arm, which incorporates the Holden Racing Team, Kmart Racing Team and now Team Brock, was a separate and healthy entity.
“The Australian operations are profitable and we are working closely with Holden on a major long-term growth strategy,” Crennan said, hinting at a possible buy-out by Holden Australia.
“We will continue to play a leading role in performance vehicles and motorsport in this country. For us, it’s business as usual.”
The $420 million TWR Group, headed by Tom Walkinshaw, hopes to continue trading while a new buyer is sought.
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