{
    "success": true,
    "data": {
        "id": 1021316,
        "msgid": "lamborghini-stops-formula-i-engine-production-1447899208",
        "date": "1994-04-11 00:00:00",
        "title": "Lamborghini stops Formula I engine production ",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "Lamborghini stops Formula I engine production MODENA, Italy (Agencies): Lamborghini, an Italian great sports car manufacturer acquired recently by Indonesian President Soeharto's youngest son Hutomo Mandala Putra and businessman Setiawan Djody, has closed Lamborghini Engineering, its Formula One engine subsidiary.",
        "content": "<p>Lamborghini stops Formula I engine production<\/p>\n<p>MODENA, Italy (Agencies): Lamborghini, an Italian great sports <br>\ncar manufacturer acquired recently by Indonesian President <br>\nSoeharto's youngest son Hutomo Mandala Putra and businessman <br>\nSetiawan Djody, has closed Lamborghini Engineering, its Formula <br>\nOne engine subsidiary.<\/p>\n<p>\"A careful assessment of Lamborghini Engineering's current <br>\nsituation and a lengthy analysis of the future of the Formula 1 <br>\nmarket have convinced Automobili Lamborghini to close the <br>\nsubsidiary,\" Lamborghini's report said here over the weekend.<\/p>\n<p>\"This will enable the company to concentrate its efforts on <br>\nexpanding sales in its car division,\" it added.<\/p>\n<p>The parent group, Automobili Lamborghini SpA, was acquired by <br>\nMegaTech Ltd., a Bermuda-based company owned by Hutomo and Djody, <br>\nfrom Chrysler Corp. of the United States in November last year, <br>\nin a move that the Indonesian tycoons claimed would make the <br>\nalready sleek sportscar more competitive on the luxury car market <br>\nand to polish Lamborghini's image. The acquisition reportedly <br>\ncost around US$100 million.<\/p>\n<p>Reuter reported Saturday that Lamborghini, which has interests <br>\nranging from finance and fashion to wine and golf courses, is due <br>\nto begin negotiations this week with trade unions representing <br>\nthe subsidiary's 59 employees.<\/p>\n<p>Asked if there were any prospective buyers of Lamborghini <br>\nEngineering, a spokesman said: \"Not that I know of, but we would <br>\nundoubtedly be interested in any offers.\"<\/p>\n<p>Automobili Lamborghini, which had an estimated 1993 turnover <br>\nof 270 billion lira ($160 million), also manufactures farm <br>\nmachinery and racing engines for offshore speed-boats.<\/p>\n<p>Ferrucio Lamborghini, who died last year, set up the Modena-<br>\nbased company in 1963 to compete with Ferrari, the luxury sports <br>\ncar maker which he said snubbed him when he complained about his <br>\nown Ferrari.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/lamborghini-stops-formula-i-engine-production-1447899208",
        "image": ""
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    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
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