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Renault Sport awards a 3 year contract to Mecachrome for F1 engines

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Mecachrome International Inc. (TSX:MCH) has won a contract renewal for the manufacture and assembly of Formula One engines developed by Renault Sport.

The contract is for three years, running until the end of the 2010 season, Montreal-baed Mecachrome said Thursday. Financial details were not disclosed.

``Renault Sport and Mecachrome have been collaborating for many years in the high-performance motor sports sector, particularly in the Formula One World Championship, and have developed a long-term partnership based on their respective know-how and experience,'' Mecachrome said in a release.

Renault Sport is the motor sports division of French automaker Renault involved in the development of F1 engines.

Mecachrome makes precision-engineered components for aircraft and automotive applications, including aerostructural and aircraft engine components, high-end automobile engine components and motor racing engines.

The company operates 11 state-of-the-art facilities, principally in France and Canada, and employs over 2,000 people.

On October, Mecachrome International announced that its initial public offering of subordinate voting shares, priced at $14 a share, had raised $205.6 million.

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Renault Sport awards a 3 year contract to Mecachrome for F1 engines
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