Formal Jaguar Purchase Announcement Set
Though it’s been known for some time that Indian conglomerate Tata is the buyer for the Jaguar and Land Rover brands which are being sold by Ford Motor Company, the official announcement of the deal is now expected on March 5th or 6th, according the news bureau AFP. Meetings last week between Tata executives and officials of the British unions representing the Jaguar and Land Rover workers were the final hurdle to be cleared before closing on the deal.
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Details have yet to be announced, but it is known that one of the issues which had been discussed was whether Tata would continue to buy engines for the Jaguar and Land Rover product lines from Ford. Jaguar and Land Rover do not make their own engines and the sale did not include the facilities used by Ford to produce engines for those brands. Tata, however, has substantial expertise in engine building and ample capacity to build its own engines for the two vehicle lines, should it chose to do so.
It is assumed, however, that Tata has acceded to the union demand that Jaguar and Land Rover continue the present arrangement. Last week, it was learned that union officials were informing their members that Tata’s ownership of Jaguar and Land Rover was in the best interests of the union members.
Automotive News, meanwhile, was reporting that announcement of the finalized arrangements was being delayed to avoid overshadowing the introduction of a newer Ford Fiesta at the Geneva Auto Show.