Aston Martin DB11 and DBS Assembly Line

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Published on May 15, 2020 5:21:45 PM ● Video Link: https://www.youtube.com/watch?v=aNkieNJrNvk

Duration: 11:24

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After "completing a turnaround for the once perennially loss-making company that could now be valued at up to 5 billion pounds ($6.4 billion)," and now reporting a full-year pre-tax profit of £87 million (compared with a £163 million loss in 2016) Aston Martin in August 2018 announced plans to float the company at the London Stock Exchange as Aston Martin Lagonda Global Holdings plc. The company was the subject of an initial public offering on the London Stock Exchange on 3 October 2018. In June 2019, Aston Martin opened its new 36-hectare (90-acre) factory in St. Athan for the production of its first-ever SUV the DBX, and two new models under the Lagonda marque. The factory was finally completed and officially opened on 6 December 2019. When full production begins in the second quarter of 2020, around 600 people will be employed at the factory, rising to 750 when peak production is reached. On 31 January 2020 it was announced that Canadian billionaire and investor Lawrence Stroll was leading a consortium who will pay £182 million in return for 25% stake in the company. The re-structuring includes a £318 million cash infusion through a new rights issue, generating a total of £500 million for the company. Stroll will also be named as chairman, replacing Penny Hughes. Swiss pharmaceutical magnate Ernesto Bertarelli and Mercedes-AMG Petronas Motorsport team principal and CEO Toto Wolff have also joined the consortium, acquiring 3.4% and 4.8% stakes, respectively.

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