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Posts Tagged ‘Tata Motors’
Tata Motors Eyes International Presence with Ford Deal
Written by admin on March 27, 2008 under News | View Comments
MUMBAI/LONDON–Indian automobile giant Tata Motors Ltd shows its presence at international level by acquiring the British luxury car units,Jaguar and Land Rover from the US carmaker Ford.Tata has to pay $2.3 billion for the purchase of these luxury brands,where as Ford has to pay $600 million to the pension fund of Jaguar-Land Rover.
Tata has been discussing with Ford since it leads the race to buy Jaguar and Land Rover.The sale was confirmed by Tony Woodley,joint leader of Unite,the largest trade union of Britain, which had backed the Indian automobile giant in its bid.
“Tata views this deal in positive terms as it is able to make an international presence, instead of being a company which focuses only on its home market,”said Mohit Arora,the managing director for India at
Ford Sale of Jaguar, Land Rover to Tata Soon
Written by admin on February 26, 2008 under News | View Comments
CHICAGO – Indian Automobile major Tata Motors will announce its acquisition of British luxury car units Jaguar and Land Rover from the struggling US automobile manufacturer Ford Motor Co. on March 5 or 6, reported the industry press on Monday.
Land Rover’s Range Rover Sport
(Credit: Land Rover USA)
Top authorities of both Tata and Ford discussed with the British union leaders last week to take a final decision prior to drawing up a memorandum of understanding (MoU) for the sale.
“The sooner everything gets settled, the better,” said Roger Maddison, the national officer of Unite, the largest union in the UK auto industry. Tata has accepted to meet the demands raised by the Jaguar-Land Rover (JLR) union leaders, said Maddison.
An important question is that whether Tata would persist in obtaining the engines and other techniques from Ford’s manufacturing unit. Ford officials were not immediately available for comment.
