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Supertec Sport, relatively new to Formula One, developed from the dominating Renault Sport developed engines, which powered Williams and Benetton cars to championship victories. Renault took the decision to withdraw from Formula One competition in 1997, leaving an opportunity for their Formula One interests to separate from the group company. The new company, Renault Sport continued to develop the successful V10 power unit in 1998, requesting Mechacrome, the company that had previously assembled and rebuilt the engines, to over-see the supply to its contracted teams. In June 1998, Flavio Briatore, former Managing Director of Benetton Formula One, announced the formation of a new company, Supertec Sport, which would act as the sole agent for Renault Sport-developed engines. Today, Arrows' partnership with the Supertec engine moves the team into their next generation of Formula One competition.