Reynard confirms split with Riley & Scott

The British chassis conglomerate bought R&S a year ago, around the time Reynard was planning to float on the US Stock Market - a move which never happened.

"We have been in discussion with Riley and Scott with regard to the future for several weeks now," said Adrian Reynard, Chairman and Chief Executive, Reynard Motorsport. "We believe that it is advantageous to both companies for us to go our separate ways amicably. The true potential of Riley & Scott and its expertise within its marketplace is not being realised through the association with us. We need to let Riley & Scott focus on its strengths, while Reynard needs to put all its efforts into its own core markets."

Bob Riley of Riley & Scott added: "We are directing our business towards evolving our sportscar product and other engineering projects, which has led to us working independently. We now need to move forward, while maintaining an informal alliance with Reynard and our existing joint activities. It is in all our interests that we continue to have an association."

Reynard and Riley & Scott both manufacture sportscars independently. Reynard's new O1Q sports racing car is an update of the 2KQ-LM introduced this year, while Riley & Scott produces the MKIII, soon to be superseded by the all-new MKIII Series C for 2001. Riley & Scott also built Cadillac's Northstar Le Mans prototype in 2000, but that association has been ended after a disappointing debut season.