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UK NEWS: Jobs saved in deal for car giants
Thousands of UK motoring jobs and pensions have been safeguarded after ownership of Jaguar and Land Rover passed from Ford of America to Tata Motors of India.
In a deal due to be completed by the end of June, Tata will pay 2.3 billion dollars in cash (about £1.15 billion) for Jaguar Land Rover (JLR).
Ford will then contribute up to about 600 million dollars (about £300 million) to the JLR pension plans.
The deal, which has been negotiated over many months, will also see Ford continuing to supply powertrains, stampings and other components to JLR as well as other support services.
Ford will also provide financing for JLR dealers for up to 12 months.
The deal involves around 13,500 employees in the UK and covers plants at Solihull in the West Midlands, Castle Bromwich near Birmingham and Halewood on Merseyside.
There had been fears that there could be job losses when Ford expressed a wish to sell JLR. But both Ford and Tata, whose companies include steelmaker Corus and Tetley Tea, said they did not anticipate any significant changes to JLR employees' terms of employment on completion.
Although the Unite union did have some reservations about the deal, its joint general secretary Tony Woodley said he was pleased Tata "was in the game".
Jerry Blackett, chief executive of the Birmingham Chamber of Commerce and Industry, which represents almost 3,500 companies, said: "This is great news and at the same time a great opportunity."
Announcing the deal, Ford Motor Company president and chief executive Alan Mulally said: "Jaguar and Land Rover are terrific brands. We are confident that they are leaving our fold with the products, plan and team to continue to thrive under Tata's stewardship."
3:47am Thursday 27th March 2008
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CommentPosted by: tim, Magor on 8:18am Thu 27 Mar 08
It is ironic that these are the type of cars the government does not want us to drive.
It is ironic that these are the type of cars the government does not want us to drive.
Posted by: cruiser, city on 8:34am Thu 27 Mar 08
I fear the existing jobs will be gone within 2 yrs another nail in the coffin.And on the question of not wanting to drive these cars most people cannot afford to do it due to all the STEALTH tax this govenment is putting on us.
I fear the existing jobs will be gone within 2 yrs another nail in the coffin.And on the question of not wanting to drive these cars most people cannot afford to do it due to all the STEALTH tax this govenment is putting on us.
Posted by: bigben, newport on 11:56am Thu 27 Mar 08
[quote][bold]tim[/bold] wrote:
It is ironic that these are the type of cars the government does not want us to drive.[/quote] Tim - how far off the mark! these are the two brands of vehicle that the government and royal family own and drive in vast numbers! Its just the weak Liberals bowing down to the idiotic enviromental lunatics who think we should all live in tents and ride push bikes! they have no idea that whilst saving the planet, they are also destroying the economic stability of the county, as they are the ones who dont work or contribute to society, they drain the nation in benefits and handouts - the scroungers! Save LR and Jaguar! Land of hope and glory!
tim wrote:
It is ironic that these are the type of cars the government does not want us to drive.
Tim - how far off the mark! these are the two brands of vehicle that the government and royal family own and drive in vast numbers! Its just the weak Liberals bowing down to the idiotic enviromental lunatics who think we should all live in tents and ride push bikes! they have no idea that whilst saving the planet, they are also destroying the economic stability of the county, as they are the ones who dont work or contribute to society, they drain the nation in benefits and handouts - the scroungers! Save LR and Jaguar! Land of hope and glory!
Posted by: bmw on 12:52pm Thu 27 Mar 08
Hardly a Stealth Tax cruiser... well publicised I think you will find...Cars & petrol have always been a cash cow for governments be it Labour or Tory and heaven help us if the Green/Liberals got in with the balance of Power. The country would grind to a halt.
Hardly a Stealth Tax cruiser... well publicised I think you will find...Cars & petrol have always been a cash cow for governments be it Labour or Tory and heaven help us if the Green/Liberals got in with the balance of Power. The country would grind to a halt.
Posted by: bigben, newport on 1:36pm Thu 27 Mar 08
[quote][bold]bmw[/bold] wrote:
Hardly a Stealth Tax cruiser... well publicised I think you will find...Cars & petrol have always been a cash cow for governments be it Labour or Tory and heaven help us if the Green/Liberals got in with the balance of Power. The country would grind to a halt.[/quote] Fantastic - at last a reader of sane and reasonable mind - well said BMW, we are on the same wavelength!
bmw wrote:
Hardly a Stealth Tax cruiser... well publicised I think you will find...Cars & petrol have always been a cash cow for governments be it Labour or Tory and heaven help us if the Green/Liberals got in with the balance of Power. The country would grind to a halt.
Fantastic - at last a reader of sane and reasonable mind - well said BMW, we are on the same wavelength!
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