Despite loss of racing business, Cosworth doing well

Cosworth, the U.K.-based engine builder that lost its last Formula One customer at the end of 2006, faces another possible blow with word that Champ Car (for which it is the sole engine supplier) is set to go out of business or merge with the Indy Racing League.

The company–owned by Champ Car co-owner Kevin Kalkhoven–eliminated 200 jobs after losing its deal with WilliamsF1.

However, it has developed new markets in the aerospace and defense industries. Cosworth is hiring staff and investing about $2 million in new machinery to fulfill orders for precision-engineered pistons for aerospace and premium automotive customers. AutoWeek