China To Buy 13000 Jaquar Over A Three Year Period
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Tata-owned Jaguar Land Rover on Friday signed a “very significant” order to supply 13000 vehicles to China.
The vehicles will be supplied over a three-year period, The Sun reports.
The news is a huge boost for the company - which employs thousands of workers in the UK at sites including Castle Bromwich and Solihull in the West Midlands and Halewood, Merseyside.
Yesterday the car firm said sales in China have been “growing rapidly” in recent years and the country had already become established as its fifth largest market in the world.
Bosses have signed an agreement called a memorandum of understanding with a business partner in the Far East.
They called it a “solid base” to build on in a “key emerging market”.
A spokesman added: “It is particularly welcomed at this challenging time for us and the automotive industry.”
The sale to China comes days after it was announced that a deal to save hundreds of jobs at the TATA-owned carmaker Jaguar Land Rover (JLR) is on the anvil.
According to Sky News, the deal with the unions should save JLR 60 million pounds.
Staff at the firm has been voting on proposals to cut their hours and freeze pay in exchange for the guarantee of no compulsory redundancies for two years.
Under the deal, workers would work a four-day week, with hours cut from 35 hours to 32. They would also give up bonuses and have their pay frozen until October 2010.
The proposals have been hammered out between the unions and Jaguar Land Rover bosses.
“We”re very clear about what our requests are and we”ll see what response we get at that time,” Jaguar boss David Smith was quoted, as saying.
Some workers voted on Monday on the proposals - others were voting on Tuesday - and the result is due to be announced on Thursday.
Union bosses told Sky News they are confident staff will back the deal.
JLR is based in Gaydon, Warwickshire, and employs about 15,000 people in Castle Bromwich, Coventry, Solihull, and Halewood in Merseyside.
Jaguar cut 450 jobs in January and like other carmakers has held production suspensions.
[Source: EconomicTimes]
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Posted: February 28th, 2009 under Cars.
Tags: china, jaquar, tata, tata china, tata jaquar, tatamotors
