Williams Grand Prix - Changing gear
In terms of the Formula One racing performance, 2019 was another challenging year on the track as well as financially. Williams also disposed of a majority stake in Williams Advanced Engineering (WAE) on 31 December 2019 for £37.8m. The 2020 racing season is being severely disrupted by COVID-19, the relationship with the ROK Group of companies is being terminated early and new bank facilities have been secured. On 29 May 2020, the company started a strategic review and entered a formal sale process under the UK’s Takeover Code.Williams Grand Prix Holdings is a holding company. Through its subsidiary, Williams Grand Prix Engineering Limited comprises a Formula One racing team and an engineering business. Co. is engaged in the design, manufacturing and commercial activity of race cars for the Formula One World Championship and the provision of Formula One derived technologies through its subsidiary, Williams Advanced Engineering Limited (WAE). WAE provides technical, engineering, testing and manufacturing services to customers in the automotive, aerospace, defence and energy sectors. It focuses in the commercial application of aerodynamics, advanced lightweight materials, hybrid power systems and electronics.
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