Advertise on »

Home > Off Topic > JLR NEWS 04/04
Post Reply  Down to end
Page 1 of 1
Print this entire topic · 

Member Since: 11 Sep 2008
Location: Sconnie Botland
Posts: 15876

JLR NEWS 04/04

Jaguar Land Rover is negotiating to secure a £773 million rescue package which could help save thousands of jobs.

The car maker today confirmed that it is in talks with the British government for a £500 million loan which would have to be repaid.

Meanwhile, Jaguar Land Rover has now made a formal application for a €300 million (£273 million) loan from the European Investment Bank (EIB); these funds would be used to fund new more environmentally friendly cars.

While a decision on the European loan is expected from the EIB after its board meeting next Tuesday, Jaguar Land Rover has been given no indication when or even whether it will receive any money from the government.

This could spell bad news for the manufacturer’s 15,000-strong workforce, who have been warned by Ratan Tata, owner of Indian parent company Tata, that jobs could go if the money does not arrive.

A spokesman for Jaguar Land Rover said, “Talks with the government within the framework of the recently announced support package continue and we hope we will see support."

Post #4533 4th Apr 2009 4:46pm
View user's profile Send private message View poster's gallery Post Reply
Post Reply  Back to top
Page 1 of 1
All times are GMT

Jump to  
Previous Topic | Next Topic >
Posting Rules
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Site Copyright © 2006-2023 Futuranet Ltd & Martin Lewis RSS Feed - All Forums

Switch to Mobile site