Midland Group

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The Midland Group is an international trading and investment holding company. Registered in Guernsey under the name Midland Resources Holding Ltd, the group owns a number of subsidiaries across the agriculture, manufacturing, real estate, shipping and steel industries.

Primarily active in the Commonwealth of Independent States as well as Eastern Europe and the Far East, the Midland group of companies has a presence in 34 countries worldwide.

The group's co-founders are billionaires Alexander Shnaider (chairman), a Russian-born, Canadian-national, and Ukrainian-born Eduard Shifrin.

[edit] Formula One

In October 2004, the Midland Group announced their intention to enter Formula One motor racing in 2006. They planned to use a car built by the Italian manufacturer Dallara. In January 2005 they changed plans by the purchase of the Jordan Grand Prix team. They kept the old yellow-livered EJ15 cars from Jordan and declared 2005 as a learning year. Under the name Midland F1 Racing, the team made its debut using a brand-new car and a new livery at the start of the 2006 Formula One season. With this team, Shnaider has declared his intention to bring the first Russian driver into the sport. [1] Later on 9 September 2006, the team was sold to the Spyker Cars for $106.6 million.[2]