Thursday, February 28, 2008

Tata Motors may ink Land Rover, Jaguar deal next week

India's Tata Motors was expected to acquire Jaguar and Land Rover from Ford Motors as soon as next week, but the US automaker would continue to supply engines and other key components for the marquee brands, The Wall Street Journal newspaper reported.
Ford is expected to apprise investors on the progress of the negotiations with Tata Motors when it files its annual 10-K report with the Securities and Exchange Commission of the US this week.
Workers' union leaders who had job-security concerns as negotiations progressed have reportedly had constructive meetings with Tata officials last week in Britain.
"Nobody foresees any major problems now; everything is pretty much done," said Roger Maddison, a national officer for the British union Unite, which represents about 16,000 workers at Jaguar and Land Rover.
He said a memorandum of understanding between Tata and Ford could be signed as soon as March 5 or 6, according to the newspaper.ians

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