Engine supplier Cosworth expressed delighted after it was confirmed on Friday that it will return to Formula 1 with three grand prix squads.
The FIA announced on Friday that the new US F1, Campos and Manor Formula 1 teams will be using the Cosworth power units when they make their debut next season. Cosworth, which last competed in F1 in 2006, will supply a standard specification engine at a reduced cost.
The deal with the three new F1 teams is for three years.
"I am pleased that Cosworth's exceptional mix of capabilities has enabled us to provide a solution for Formula 1 that sits so neatly with our existing operations in the aerospace and defence sectors," said Cosworth CEO Tim Routsis. "Cosworth is proud not only to be able to provide a solution that will deliver the performance needed by these teams to compete in this most technologically challenging sport, but also to extend its long association with Formula 1 as a truly independent provider of competitive motive power.
"The engineering expertise we have accumulated over four decades in the sport has enabled us to broaden our reach into many different high-technology sectors.
"Today our engineering capabilities extend beyond racing, encompassing high-technology applications in the aerospace, defence, energy, marine and automotive industries. Cosworth has the necessary infrastructure to fulfil the supply of Formula 1 engines without affecting our other activities."