delusionofgrandeur

It now seems likely that Land Rover and Jaguar will be sold to private equity firms in the very near future.

The Solihull Land Rover plant which employs 5,900 people from around the West Midlands could be closed. Investors are expected to use the 308 acres of land to build “Executive Homes” [read: overpriced rabbit hutches] and net them around £450 million.

Land Rover production would move to Merseyside where the Freelander is already produced but the jobs at Solihull would probably be non-transferable for obvious reasons.

Ford, faced with £3.55bn in losses, has codenamed the British sale ‘Project Swift’, suggesting it wants a speedy conclusion.

Jaguar’s production would be concentrated at the Castle Bromwich factory but further job losses could be on the cards.

This entry was posted on Wednesday, June 13th, 2007 at 1:39 pm and is filed under Automotive.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.