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Tata completes Jaguar Land Rover deal
Jun 2 2008 By Alistair Houghton
INDIAN giant Tata Motors has today completed the £1.16bn takeover of Jaguar and Land Rover from Ford, including the Halewood plant which employs more than 2,000 people.
Tata Motors chairman Ratan Tata joined a ceremony at Land Rover’s Midlands headquarters to celebrate the confirmation of the deal, which was first announced in March.
Mr Tata confirmed his company was committed to Jaguar Land Rover’s existing business plans, including the plant at Halewood that builds Jaguar X-Type and Land Rover Freelander vehicles.
He said: “This is a momentous time for all of us at Tata Motors. Jaguar and Land Rover are two iconic British brands with worldwide growth prospects.
“We are looking forward to extending our full support to the Jaguar Land Rover team to realise their competitive potential.”
Ford has contributed £303m to the Jaguar Land Rover pension plans as part of the deal.
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