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F1 supplier B3 Technologies enters administration
17th December 2008
B3 Technologies, the UK based motorsport and aerospace research and development company, in Shalford, Surrey has gone into administration.
B3 Technologies was formed in 1997 when renowned motorsport design engineer John Barnard bought the UK based Ferrari Design and Development operation which he had set up for the Italian F1 team four years earlier. From 1998-2008 B3 Technologies worked various projects including the design of Formula One cars for the now defunct Arrows and Prost organisations and Grand Prix motorcycles for the Team KR MotoGP team. In March 2008 B3 underwent a management buyout in which Barnard sold his equity in the company to a group headed by commercial director John Minett and chief finance officer John Allen.
Former F1 engineers Steve Nichols and Matthew Jeffreys were recruited as the technical director and operations director of the company which offered its design and manufacturing services to the motor racing, aerospace, defence, medical instrumentation and specialist engineering industries.
The administration is being handled by Smith & Williamson based in nearby Guildford. The 30 members of B3 Technologies staff have been laid off and a buyer is being sought for the company as a going concern.
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