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16.JAN.02
McLaren
Engines to Return to Indy Racing as GM Engine Builder LIVONIA,
Mich. (January 16, 2002)--McLaren Performance Technologies (NASDAQ:
MCLN) announced today that its McLaren Engines group has aligned
itself with the Indianapolis-based Blair racing team to build GM
Racing Indy Racing League (IRL) engines. Blair Racing will enter the
2002 IRL series with Dallara chassis and Chevrolet engines. The
driver will be Alex Barron, of San Diego, Calif.
"As the original engine development company for Bruce
McLaren Motor Racing, McLaren Engines has enjoyed a long heritage of
racing success with General Motors' powertrains -- beginning with
our multiple Chevrolet-based, Canadian American Challenge (Can-Am)
championships, through the front row (pole position) performance of
the stock-block Buick V6 at the Indianapolis 500. Most recently, our
continued involvement with GM Racing led us to LeMans, where we
continue to accelerate as the engine development partner for the
Cadillac Northstar Prototype (LMP) racer," said Steven Rossi,
president and chief executive officer, McLaren Performance
Technologies.
According to Hayden Harris, chairman, McLaren Performance
Technologies and co-owner of Blair Racing, "Considering what
Tony George and the Indy Racing League have already contributed to
the well-being of the sport, it's only natural that McLaren Engines
now accelerate its return to Indy as an engine source --
particularly, with a team with such capability as Blair Racing. We
very much look to McLaren Engines and Blair Racing as a winning
combination."
The Chevrolet IRL engine is a 3.5-liter, 32 valve V8 with double
overhead camshafts (DOHC). The normally-aspirated, fuel-injected
(methanol) racing engine generates approximately 650 horsepower,
with a maximum engine speed of 10,700 revolutions per minute (rpm).
"McLaren Performance Technologies is a strategic partner for
Blair Racing, and its long standing, winning tradition will no doubt
fortify our position," said Blair Racing co-owner Larry Blair.
"Our team is not only proud to be 'Powered by McLaren,' but
sees the relationship as a true competitive advantage," he
continued.
Wiley McCoy, executive vice president and chief operating
officer, McLaren Performance Technologies will serve as IRL project
leader for the Livonia-based engineering services provider. McCoy
will interact directly with Tom Gloy and John Dick of Blair Racing,
who have been named president and team engineer, respectively.
Between them, they have delivered numerous race wins and
championships in many different forms of racing.
McLaren-built engines have appeared at Indianapolis since the
late 1960's, and powered Johnny Rutherford's 500 wins in both 1974
and 1976. In addition, a McLaren-made engine sat on the Indy 500
pole in 1985 with Pancho Carter, when McLaren Engines partnered with
the Buick Motor Division to create the stock-block V6 race motor.
McLaren Performance Technologies provides full-service design,
development fabrication, manufacturing, testing, validation and
certification of automotive powertrains and related components. In
addition, it develops and licenses patented traction control
technology and has full vehicle development and prototyping
capability. The company was established in Livonia, Michigan in
1969, as the engine development company for Bruce McLaren Motor
Racing.
This release
contains forward-looking statements within the meaning of Section
21E of the securities Exchange Act of 1934, as amended, which are
intended to be covered by the "safe harbor" created
thereby. These statements include the plans and objectives of
management for future operations, including plans and objectives.
The forward-looking statements herein are based on current
expectations that involve judgments with respect to, among other
things, future economic, competitive, and market conditions and
future business decisions, all of which are difficult or impossible
to predict accurately and many of which are beyond control of the
Company. Although the Company believes that the assumptions
underlying the forward-looking statements are reasonable, any one of
the assumptions could be inaccurate and, there fore, can be no
assurance that the forward-looking statements included in this
release will prove to be accurate
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