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GENERAL MOTORS SELLS LOTUS TO BUGATTI

 Bugatti To Acquire The Entire Lotus Operation
 Including All Assets in the United States
 LAWRENCEVILLE, Ga., Aug. 27 /PRNewswire/ -- General Motors and Bugatti have today signed a contract for the immediate sale of the entire shareholding of Group Lotus plc and Lotus Cars USA to Bugatti International S.A.H., the owner of the Bugatti Group. Bugatti will acquire the entire Lotus operation, including the Engineering Consulting and Cars businesses, as well as Lotus' assets in the United States.
 Bugatti International, the company responsible for the successful relaunch of the Bugatti brand will guide the new alliance and assist in the development of the Lotus and Bugatti brand identities. Lotus and Bugatti will remain separate and independent companies, but will pool their resources in specific areas, such as development and marketing. GM and Opel intend to continue to purchase from Lotus Engineering consulting services.
 "Sharing our engineering resources, we will be able to offer full technical and styling services to our customers," said Mario G. Barbieri, vice president of Bugatti. "We are determined to further develop Lotus production through the introduction of new models. We will also jointly develop our marketing and sales network, and take advantage of other synergies, such as the participation at motor shows and exhibitions as well as joint homologation activities."
 "We believe that the ownership of Lotus by Bugatti International will offer an opportunity to continue the Lotus tradition of innovative engineering and of sports car manufacture, as well as to enable the further development of its unique brand," said Peter H. Hanenberger, executive director Technical Development Centre, GM Europe and vice president, General Motors Corp.
 Adrian Palmer, managing director Group Lotus, said: "This is a logical and powerful liaison which we are sure will be beneficial for all concerned. There are many business opportunities which can put new drive into the Car Division and can develop the Engineering sector to offer a unique consultancy package consisting not only of technical but also styling services. Continued research will be undertaken in areas such as environmental compatibility, for instance of noise emissions, increased vehicle safety and energy saving devices for automotive producers throughout the world."
 Bugatti Automotive President Romano Artioli, sums up: "On a specific level we look forward to using Lotus Engineering to accelerate our development programs, for example for our new highly acclaimed EB 112 sports saloon car. On a more general level, we would like to assure Lotus business associates and enthusiasts that in the capable hands of Bugatti International, the image which Colin Chapman created for Lotus will be protected and strengthened. The alliance of two well matched and complementary Groups -- Bugatti and Lotus -- which have a history of racing victories, will forge ahead in creating new attractive products in the field of high-performing automobiles."
 -0- 8/27/93
 /CONTACT: James Blackwell, Vice President and Chief Operations Officer of Lotus Cars USA Inc., 404-822-4566; or Bugatti Press Office, 011-39-59-899-320/


CO: General Motors; Bugatti International S.A.H.; Group Lotus plc;
 Lotus Cars USA ST: Georgia IN: AUT SU: TNM


EH-LM -- LA017 -- 6672 08/27/93 14:02 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
Words:516
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