Cosworth wins the MIA’s New Markets Award

British engineering company Cosworth has been named as the winner of the New Markets Award by the Motorsport Industry Association (MIA) at its annual event to showcase business excellence.

Cosworth chief executive Tim Routsis said the business was recognised for its diversification programme, which has seen Cosworth apply its motorsport technology and engineering skills in other sectors including aerospace, defence and marine.

He added: ‘This award is a real testament to the people we have at Cosworth who have spearheaded the drive to transfer technologies from the high performance world of motorsport into adjacent markets.

‘Our diversification has played a major role in the growth of the group and this award recognises both the success of this strategy and the skill and hard work of our staff – you can’t make a business work without the dedication of the people inside it.’