First Australian To Win A Champ Car Race

BAM Media

Apr 09, 2007

Team Australia s Will Power has become the first Australian to win a round of the Champ Car World Series after clinching the Las Vegas Grand Prix in Nevada this morning. Power, who started from pole, dominated the race in his Aussie Vineyards-backed machine to clinch the win from Dutch rookie Robert Doornbos and Champ Car veteran Paul Tracy.

Other former Australian podium winners have included Geoff Brabham and former F1 world champion Alan Jones, but Power, who won last year s Rookie of the Year title, is the first Australian to stand on the top step. Power was born and bred in Toowoomba, Queensland, and currently resides in Indianapolis, Indiana, close to the team.

Team Australia is owned by Queensland businessman Craig Gore and US racing legend Derrick Walker. Power basically took up from where he left off last year s championship.

He claimed pole in the penultimate round of last year s title chase at his home race on the streets of Queensland s Gold Coast and then clinched his first podium finish in the last race of the year in Mexico City. He claimed the pole for today s race by almost a second from his nearest rival and, despite losing the lead on the opening lap to Tracy, ran a fast and trouble-free race under a perfect strategy prepared by Walker.

Defending champion and Power s main rival for this year s title, Sebastien Bourdais, crashed out on lap 30 of the 68-lap race. Power s team-mate Simon Pagenaud also showed good speed throughout the weekend and looked a top three threat before he suffered engine problems and withdrew after 47 laps.

more

Cooper-Standard Automotive reports 2006 results

Cooper-Standard Holdings Inc., the parent company of body sealing, fluid handling and NVH components specialist Cooper-Standard Automotive Inc., has announced its fourth quarter and full year 2006 financial results. For the full year 2006 it reported record sales of $2.2 billion, and after one-off pre-tax adjustments related to restructuring and impairment charges of $37.1 million, reported a net loss of $8.4 million.

Net sales increased 18.4% from 2005, primarily due to the acquisition of FHS and favourable foreign exchange rates ($36.5 million), partially offset by lower unit sales volumes and customer price concessions.

Operating profit in 2006 was $12.0 million lower than in 2005, decreasing from $76.3 million to $64.3 million, primarily due to increased restructuring costs ($20.9 million), increased amortisation of intangibles ($2.9 million), and an impairment of goodwill and other intangible assets at Cooper-Standard’s NVH business ($13.2 million).

read more