Williams Advanced Engineering has rebranded to WAE Technologies, following its acquisition by the Australian metals company Fortescue Metals Group for £164 million last year.
Founded in 2010 as an offshoot of the late Sir Frank Williams' eponymous Formula 1 team, the firm has rebranded because its licence to use the name has lapsed. The new name is officially no longer an acronym.
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It has got rid of the private equity/vulture capitalist part ownership which has to be good. I expect there is good potential growth for Fortescue and oportunities for Dorilton Group.