Ford, Tata Deal Close to Signing
By Michelle Krebs February 26, 2008Ford reportedly is close to signing a long-anticipated agreement with Indiaâs Tata Motors for the sale of Jaguar and Land Rover, having resolved issues with union members in the United Kingdom.
The official sale is expected to be announced next week. Ford had targeted to close the deal by the end of first quarter, which ends March 31.
Tata cleared the way for its purchase of the British luxury marques after settling issues with Unite, the giant UK union that represents Jaguar and Land Rover workers there.
Workers wanted assurance Tata would continue to source engines, stampings and other parts from Ford plants in Wales and England. All Jaguar and Land Rover engines come from Ford plants. So do many Land Rover stampings.
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