Jul.17 (GMM) Caterham has announced it will move into its new factory after this weekend's Hungarian grand prix.

It emerged in January that the Tony Fernandes-led team would relocate to the former Arrows and Super Aguri facility in Leafield, Oxfordshire.

From its 2010 inception, the former Team Lotus has been based in Hingham, Norfolk.

"With Leafield open for business, we have put in place the next vital stage for the continuing development of all the Caterham Group businesses," said Malaysian entrepreneur Fernandes, referring not only to his F1 team, but also Caterham's GP2 and road car arms.

"The first task is to refurbish the whole site and prepare it for a long and successful future," he added.

Fernandes said the refurbishment will be finished in late October.

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