McLaren Group
From Wikipedia, the free encyclopedia
| McLaren Group Limited | |
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| Type | Private |
| Founded | 1985 |
| Headquarters |  Woking, United Kingdom |
| Key people | Ron Dennis (Chairman & CEO), Martin Whitmarsh (COO and CEO of McLaren Racing) |
| Industry | Motorsport |
| Revenue | GB£241 million (2005) |
| Operating income | GB£14.3 million (2005) |
| Net income | GB£12.3 million (2005) |
| Employees | 1,289 (2005) |
| Subsidiaries | McLaren Automotive McLaren Composites McLaren Electronic Systems Absolute Taste Others |
| Website | www.mclaren.com/partners/group |
| Source: ICC Financial Analysis Reports | |
The McLaren Group, based at the McLaren Technology Centre in Woking in the United Kingdom, is a group of companies created by Ron Dennis, described by the International Herald Tribune as "a small conglomerate".[1] The Group is focused around the Vodafone McLaren Mercedes racing team and Formula One constructor, and was originally formed from the team established by Bruce McLaren in 1963.
[edit] Businesses
- McLaren Racing, the company behind the Vodafone McLaren Mercedes Formula One constructor
- McLaren Automotive, the company which has produced small volumes of the McLaren F1 road car and currently, in conjunction with Mercedes-Benz, makes the SLR
- McLaren Electronic Systems, which develops and manufactures automotive control systems and components for motorsports, including systems for Team McLaren
- McLaren Marketing, primarily serving the marketing and media requirements of McLaren Racing
- Absolute Taste, caterer to Team McLaren and corporate clients.
- Lydden Circuit, which manages a racetrack of the same name near Dover in Kent.
- McLaren Applied Technologies, which develops commercial applications for the Group's technologies and provides an internal resource for facilities and expertise.
[edit] Ownership
On 3 January 2000 Daimler AG (then DaimlerChrysler AG) exercised an option to buy 40% of the then TAG McLaren Group. Since 1995 Daimler has supplied British-built Ilmor engines to the McLaren Formula One team under the Mercedes-Benz brand. Ron Dennis and the Techniques d'Avant Garde Group (owned by Mansour Ojjeh) each retained a 30% share.[2] In November 2003 TAG McLaren Group announced it was to change its name to McLaren Group, and its associated companies would also drop the TAG name.
In August 2006 it was reported that Daimler was considering acquiring the 60% held by Dennis and Ojjeh.[3] However in January 2007 it was announced that Bahrain Mumtalakat Holding Company, wholly owned by the Kingdom of Bahrain, intended to purchase 15% from both Dennis and Ojjeh. The shareholding is thus Daimler 40%, Bahrain Mumtalakat Holding Company 30%, Ron Dennis 15% and Mansour Ojjeh 15%.[4]
[edit] References
- ^ Spurgeon, Brad. "TAG McLaren Group Revs Up Off Track", International Herald Tribune, 2000-06-24, p. 9. Retrieved on 2007-04-13.
- ^ DaimlerChrysler acquires an interest in TAG McLaren. Daimler website. 2 February 2000. Accessed 3 July 2006.
- ^ "Mercedes may raise McLaren stake, no decision yet", Reuters, 2006-08-16. Retrieved on 2006-08-16.
- ^ "Bahrain company buys into McLaren", 2007-01-09. Retrieved on 2007-01-11.
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