Midland Group
The Midland Group is an international trading and investment holding company . Midland Resources Holding AG has been in Guernsey since 1994, where they own the group of a number of subsidiaries throughout the agriculture , manufacturing , real estate , shipping and steel industries .
The Midland Group has a presence in 34 countries, primarily in the Commonwealth of Independent States as well as Eastern Europe and the Far East . The group is owned by billionaire Alexander Shnaider , who is chairman , and Eduard Schifrin .
In October 2004, the Midland Group announced that they would go into Formula 1 in 2006 . They planned to use a car made by the Italian automaker Dallara . In January 2005, they changed their plans by purchasing Jordan Grand Prix . After acquiring Jordan, they publicly stated that 2005 was considered an apprenticeship year. Under the name Midland F1 Racing , the team made its debut with a new car at the beginning of the 2006 season. With the team, Shnaider explained, it was the intention to bring the first Russian drivers into Formula 1, but this did not succeed. Otherwise, the hoped-for successes failed to materialize. On the 9th of September 2006, the team was Spyker for 106.6 million US dollars sold.