Two pieces of Aston Martin news

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Aston workers vote to strike

Source: AutoCar

Workers at Aston Martin�s Gaydon factory have voted to strike in a dispute over pay.

The dispute is over pay rises for the next two years. Workers rejected an offer of 6.75 per cent rises over the next two years, due to the possibility of receiving up to �2500 less than someone doing the same job.

It�s bad news for Aston Martin, which was recently bought by a consortium led by Prodrive�s David Richards.

The workers who have elected to strike are 656 members of the Transport and General Workers' Union; members of the Amicus union are to vote on Thursday.

A spokesman for the TGWU, Des Quinn, said: "Whilst there are other outstanding issues that needed to be addressed, we believe they can be resolved by negotiation.�

Aston hits the jackpot

Source: Auto Express

Could the recent deal to buy Aston Martin have made the firm the world's richest car company?

It certainly looks that way. That's because the David Richards-led buyout was financed by a group of businessmen from the Middle East, and it's believed the deal is the first in the motor industry to be fully compliant with Islamic sharia law, which opposes the speculative borrowing of money.

This means that while a large part of the deal to buy Aston will be funded with a bank loan, much of the money will be in cash - which will give Aston Martin spending power that it hasn't previously enjoyed. The net result of this is that Aston will be able to speed development of cars such as the four-door Rapide (pictured).

"We will be able to do things now that we have never been able to achieve before," said the firm's chief executive, Ulrich Bez. "Under Ford, we always lost out because there had been other calls on the money. Furthermore, there is no longer a ceiling on our production numbers. The only limit is the capacity at the factory in Gaydon, Warks.

"We have no problems with engine supply, a V8 Vantage Sport will come in the autumn, and the DBS is slated for an October launch. The Rapide will appear in 2008, and production of the saloon will rise to 2,000 cars a year."
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