Dofasco F1 team

[slucas]

The Hamilton steel maker Dofasco is rummored to have contracted Dallara to build it a F1 car.$80 million is said to have already been paid out.

Updates to follow.... (don't hold your breath)

[gatherer]

isn't that company in recievership?

[Jay]

No Dofasco is booming now and is certainly not in recievership. Stelco (steelmaker down the street from Dofasco) is currently under protection from its creditors and is restructuring.

As for the Dofasco F1 sponsorship, haha.... I saw that on the web and I have no idea where it came from, but if it is true I will eat my shirt. (I work at Dofasco)

Jay

[haniforama]

There is no steel in an F1 car anyway :D

[gatherer]

Originally posted by Jay
No Dofasco is booming now and is certainly not in recievership. Stelco (steelmaker down the street from Dofasco) is currently under protection from its creditors and is restructuring.

As for the Dofasco F1 sponsorship, haha.... I saw that on the web and I have no idea where it came from, but if it is true I will eat my shirt. (I work at Dofasco)

Jay

I see I always get those factories confused... my mistake

[MARC W]

Dofasco has been in talks with Dallara and thay are currently looking into the feasability of entering F1 to gain more global exposure. They are concerned about engine choices and wanting Toyota to supply customer engines. The Fords just stink.
When i find the original post i'll be sure to put it up.

[Marsh]

Originally posted by haniforama
There is no steel in an F1 car anyway :D
Wanna bet?


The interesting part is how they are going to get a car in the show with no more new teams allowed.

[haniforama]

Originally posted by Marsh
Wanna bet?


Sure - i'll bet one titanium connecting rod :D

(BTW: I'm joking JIC...)

Hanif

[J.C.]

Actually it seems there may be alot more metal for next year as they want to get away from materials that splinter.

[Tashko]

Actually it seems there may be alot more metal for next year as they want to get away from materials that splinter.

From what I've read, they were thinking of wraping the CF bits with a kevlar skin. Evidently Kevlar does not splinter as much as CF and should reduce shards by ~80%...they were also going to strenghten the wheel tethers yet again.

As far a new team is concerned, there is always the option of buying Jordan and Minardi is always on the verge of not competing.

Off topic a bit but I must admit, I haven't been this excited about F1 in some time. Good thing JV is back! I've been hitting the refresh button on the f1 sites looking for any new info!
I can't wait until the Chinese GP. I wouldn't be surprised if Flavio tells JV's engineer to set up a really light fuel load for JV to get on the front row. It would be great marketing!!

[MARC W]

Here's the info

http://www.grandprix.com/ns/ns13434.html

[Jay]

It's pure speculation.... "The company involved is a big player in the steel industry and we believe that the most likely candidate is a firm called Dofasco, which is involved in steel, construction, packaging, distribution and automotive componentry."
"

MOST LIKELY..... RIIIIIIIIIIIIIIIIIIGHT!

Oh and we didn't "Aquire an new CEQ" as the article suggests. John Mayberry retired and was replaced by Don Pether, who was a Dofasco VP for many years prior to the CEO role.

Jay

[RacerJason]

There is actually 150 lb. plate of steel below the drivers feet in every grand prix car. I know hard to believe.

[Doug P]

Hype is with Jaguar now.


http://www.grandprix.com/ns/ns13520.html

[slucas]

Perhaps Dofasco will purchase the Jaguar F1 team (it comes with Cosworth) and move it to Hamilton.
Perhaps they (Dofasco/Jaguar/Cosworth) will start testing new Canadian drivers, starting with candidates from their own plant.
This may be the big break you were looking for Jay.



Is this the way rummors start? :D

[grau]

As a current employee with 28 years seniority at Dofasco, and a current regional racer in FLibre, I would love to see Dofasco involved in ANY form of motorsport sponsorship.

But I think that F1 would be no doubt the most expensive and get the least amount of exposure for them for the $80 million. While Dofasco is doing exceptionally well and is no doubt one of the top and most profitable steel makers in North America for the last decade while others have gone belly up,the key word here is being "North America". Therefore it would make more sense for Dofasco to look into the world of Nascar sponsorship vs F1. With Dofasco closely tied to the automotive segment in North America ( i.e. GM, Ford, Chrysler and yes even Honda and Toyota) the exposure gained via Nascar would make more sense. As most of the steel purchased by these companies is used in North American cars vs European ones.

Yes Dofasco is looking globally for new investments, but also as a shareholder of approx. 350 shares ( not much but a start ) I feel that this is a poor investment and offers no return at this time. Maybe once Dofasco does expand globally and becomes a big player on the global market, then it may be worth while. But as I said, with the close ties to the North American auto industry and more steel used in a Nascar race car this also ties into Nascars old saying of " win on sunday, sell on Monday" which in turn helps Dofascos' bottom line of selling more steel.

While I am not sure if this is true, I have heard that Dofasco has been approached by a Nascar team who came in with all the bells and whistles and even with paint schemes and all, but was politely turned down by Dofasco. But that to is only a rumour.

Also for the $80 million dollar figure that it being thrown around, that would buy Dofasco 5 years of $15 millon per year for a very good and top notch Nascar team. Or if they wanted to go with a lesser team they could then get 10 years worth of exposure in the North American market which has been the key to there success.

But as Jay said, I to will eat my more of my words if it does happen and I will be inquiring on how to become part of the CAD engineering group for the team.

Hey Jay. I see that you work at Dofasco also, maybe we can approach them for some cash for our cars which would be far cheaper than $80 million. I would be happy with $15k...... yukyukyuk

[miataboi]

They should just buy Ford's former Jaguar team!
:eek:

[turboawd]

Maybe not steel but aluminum, Alcan and company?

[Steven Scala]

But I think that F1 would be no doubt the most expensive and get the least amount of exposure...As most of the steel purchased by these companies is used in North American cars vs European ones.

My guess is that Dofasco may be pursuing an image of global competitiveness and advanced technology, which Nascar - for all its star drivers and devoted fans, can't deliver. The series peddles soft drinks and dinky cars better than any other on the planet, but the automakers themselves are complaining that Nascar's methods of equalizing competition have rendered the cars technically irrelevant.

Beyond that, I'd imagine that a Nascar operating budget is a bit much to pursue five or six North-American automakers. Your guess is as good as mine, but I would suspect that if a materials company were hoping to display a variety of materials and applications, then they'd want to get the attention of the engineers.

Flip through any issue of Racecar Engineering or Race Tech, and it's likely that any Nascar-related articles will focus on aerodynamics, or possibly oval chassis setup. Most of the articles focusing on materials are based on campaigns that are closer to the frontiers of automotive technology: Dofasco-supplied steel would gain a fair bit more credibility when applied in an 18,000rpm engine or 24-hour endurance race, than in a low-rev restrictor plate race. This is precisely why Alcan partners with teams going to LeMans.

You are right about one thing though, George. Money spent in F1 is more likely to find itself on Slavica Ecclestone's finger, or in little Tamara's college fund. The money should be better spent either in endurance racing, DTM, BTCC, or any other national or continental-level series' where the cars are the stars.

[CobraStang]

Originally posted by Steven Scala
Dofasco-supplied steel would gain a fair bit more credibility when applied in an 18,000rpm engine That is sooooo last year! Hehehe!

But your point is right on. Why would any company spend $80mil on a market that it already has well in hand? You only invest that kind of cash into a new market that will propel your company into the next decade(s).

[Jay]

I checked with some Dofasco people "in the know." As suspected, this story is total BS.

Jay