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PURE suspends engine development

ESPN Staff
July 28, 2012 « 'We've got work to do' - Webber | Upgrades paying off - Hamilton »
Craig Pollock has confirmed that work stopped in Cologne on Friday © Sutton Images
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Engine manufacturer PURE has had to suspend operations due to a lack of funding from its investors.

Craig Pollock's operation has been working towards supplying customer engines when the new 1.6-litre V6's are introduced in 2014. However, Pollock has told Autosport that a funding issue with one of its investors has caused the company to halt work on the new units until a tax situation can be resolved.

"The situation is very simple," Pollock said. "The investor is US-based, but the bridging finance must come out of the EU as Swiss authorities are insisting upon that because of the tax situation. We expect bridging finance to be in place by the end of the month (July) and it will come from the EU."

Pollock also confirmed that the work had been taking place at the former Toyota headquarters in Germany.

"We have been manufacturing the parts and putting engines together in Cologne, but that has ceased as of today (Friday)."

© ESPN Sports Media Ltd.

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