Further to the press release issued by the joint administrators of Lola Cars International Limited (in administration) and Lola Composites Limited (in administration) on Tuesday 9th October, which related solely to the trading of the two subsidiaries, Lola Group Holdings wish to put the record straight by making the following statement.
Lola Group Holdings Limited is the owner of the Lola brand and all Lola intellectual property. Lola Group Holdings has reached agreement with the joint administrators, through participation in a sealed bid tender, to purchase the remaining Lola Cars International stock and inventory which includes current LMP stock and tooling to enable the continued manufacture of parts to service Lola customers.
The Lola facilities in Huntingdon, which includes the 65,000sq ft of offices and factory plus the 15,000sq ft wind tunnel and technical facility with F1 capability, is owned and controlled by other group companies and are available for sale or letting. The factory includes a fully equipped composites manufacturing capability with autoclaves, 5 axis machining and all the other equipment necessary to undertake composites manufacture for top level motorsport. The technical centre remains fully operational and is undertaking consultancy work and wind tunnel testing for automotive and motorsport customers.
Source: Sniffer Media
Per a confidentially European source Motorsport.com understands that Multimatic LLC is the apparent company that will buy the LMP project.
