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Thread: Good news???

  1. #1
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    Default Good news???

    Jan 03, 2008 - "Officially Official: Ford picks Tata as preferred bidder for Jaguar/Land Rover

    Posted Jan 3rd 2008 11:25AM by Noah Joseph
    Filed under: Ford, Jaguar, Land Rover, Earnings/Financials

    Previous rumors that Indian automaker Tata was chosen by Ford from among a group of bidders to buy Jaguar and Land Rover have proven to be true, as both Tata and Ford announced earlier today that they have moved into advanced negotiations on the sale of the two British marques.

    Although both companies were quick to point out that there are still a number of steps before the deal is finalized, informed insiders have confirmed that the two competing bidders, Mahindra & Mahindra Ltd and One Equity Partners LLC, have effectively been rejected in favor of Tata.

    Factory workers at Jaguar and Land Rover in England were reportedly informed shortly before the announcement went public. Ford, the biggest seller of automobiles in the UK, reportedly wants the new owner of Jaguar and Land Rover to retain the bulk of their existing 15,300-strong British work force, and Jaguar's principal union has expressed its preference for Tata.

    Although Ford needs the cash injection from selling off its subsidiaries, the automaker is anticipated to pursue a similar relationship with Jaguar and Land Rover that it maintains with Aston Martin: continuing to supply components, including engines, even after the divisions are sold off.

    Follow the jump to read the official statement from Ford of Europe and PAG chairman Lewis Booth.

    [Source: Detroit Free Press]"
    (News Link)

  2. #2
    Join Date
    May 2006
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    Default

    I guess we'll have to wait and see, thanks for the swift "uptake".

    Les Parker
    Tech. Support and Parts Specialist
    Rovers North Inc.

  3. #3
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    Default

    I think that this trend might be industry wide for Auto production ??

    Press Release

    Audi production successfully launched in India

    Indian market vital to Audi’s growth strategy. First locally assembled Audi A6 cars received by Indian customers Audi to invest around 30 million euros by 2015. Assembly of the new Audi A4 to follow starting in late 2008.
    Audi continues to make its mark in India’s flourishing growth market: the company with the four rings has now successfully started production for the Indian market of the world’s most successful luxury midsize sedan – the Audi A6 – at its Aurangabad site in the state of Maharashtra. By 2015, when more than 2,000 units of the A6 should be rolling off the line...

    Read more here >>
    http://www.worldcarfans.com/9080103....ction-in-india
    Last edited by TSR53; 01-04-2008 at 07:56 AM.
    Cheers, Thompson
    Art & Creative Director, Rovers Magazine
    Rovers North, Inc.

  4. #4
    Join Date
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    Default

    More Jaguar-Land Rover > Tata news...

    From...
    http://www.euronews.net/index.php?pa...lng=1&option=1

    India's Tata is front runner for Jag and Land Rover

    Ford has moved closer to selling Jaguar and Land Rover by confirming that India's Tata Motors is its preferred bidder. The US carmaker is selling the two European brands to raise money and pay down some of its mounting debt. The three final bidders are Tata, another Indian car maker - Mahindra and Mahindra - and US-based private equity firm One Equity Partners.

    Workers and the unions have indicated that they prefer Tata, one worker at the Land Rover plant in Solihull said: "If we got a private equity firm (buying us), they would just asset strip the place and that would be the end for all of us: they (Ford) keep going on about how Tata is a big company and has got lots of money, and they've looked after the other people (in companies) they've taken over, so hopefully they'll do the same for us."

    India has a booming car industry: in 2006 it was worth 20 billion euros, by 2010 it is predicted to reach around 45 billion and by 2015 should be over double that.

    Tata is India's largest car and commercial vehicle maker and if it were to become the new owner of Jaguar and Land Rover it would be the latest instance of a company from the subcontinent buying a high-profile European industrial target. Last year, Tata Steel last year bought the Anglo-Dutch steelmaker Corus.

    All of the bidders have reportedly been involved in talks with Ford, the unions and the British government, which wants to safeguard Jaguar and Land Rover manufacturing jobs in the UK.

    Ford said over the next few weeks there will be negotiations with Tata at a more detailed level.

    Also, all the remaining news, of course from...
    http://thelandroverchronicles.com/
    Cheers, Thompson
    Art & Creative Director, Rovers Magazine
    Rovers North, Inc.

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