UPDATE: Union supports Tata Land Rover bid

Source: Manufacturing Digital

Date :22/11/2007 11:44:32

Workers union Unite has given its backing to the Indian Tata Group in its bid to buy English marques Land Rover and Jaguar from Ford.

Union leaders for both brands would ideally like to remain part of the Ford group, but if the sale must go through – and it seems inevitable- they feel that worker’s best interests "would be served by finding a partner with an established presence and background in manufacturing."

Track record

Earlier this week, Tata, Mahindra & Mahindra and One Equity Partners, the private equity investment firm, made presentations to union representatives in London. Tata are understood to have made the best impression, largely due to concerns over One Equity’s lack of knowledge of the manufacturing sector.

It is thought that Ford wants to sell Jaguar and Land Rover by early 2008 as the company looks to concentrate on reviving its North American business, the main source of a record $12.6 billion 2006.

November 22, 2007