(Motorsport-Total.com) – To ensure the company's growth in the future, Williams sold a large part of its shares in the subsidiary Williams Developed Engineering (WAE) to a private company of EMK Capital. WAE was founded in the year 2011 and acts as the owner of the Formula 1 group. Over 300 employees work on 40 various projects worldwide.
Williams himself will only keep a fraction of the shares. WAE has already worked on many motorsport projects and has supplied batteries in Formula E, among other things. Now the next step in the company should be made.
“WAE has quickly developed from a starting up-up company to a business with customers in many sectors,” said Williams Managing Director Mike O ' Driscoll. “To further develop WAE and its technologies, it was now the right time to sell the shares. EMK Capital is a success story and WAE will benefit from it. This way the company can develop its full potential.”
WAE Managing Director Craig Wilson adds: “WAE has built a strong reputation and has developed energy efficient solutions for different customers in different sectors. Our abilities and technologies in the areas of electrification, light structures, aerodynamics and precise manufacturing will become increasingly important in the future. “
With WAE's new ownership allocation, the company wants to take advantage of global opportunities and grow even further. Wilson says: “This gives americadie the opportunity to invest in new areas and technologies. So we can use the full potential of our company.”