Tata Motors officially acquires Jaguar and Land Rover brands
It is dated March 26, 2008 that has signed the final agreement regarding the purchase by Tata Motors of British brands Jaguar and Land Rover. Redemption that brings the Indian giant was having to pay the modest sum of $ 2.3 billion (U.S.), an amount which in fact represents a quasi boon in proportion to costs of purchase required by Ford when it s' is acquired. For its part, Ford contributes a value of $ 600 million in the retirement plans of employees of Jaguar and Land Rover.
On this occasion, the big boss of Tata Motors, Ratan Motors STATED `` This is a special moment for us is to acquire the prestigious British brands, recognized around the world as icons of the world industry of automobile. Today, I can assure you that we will continue to ensure the development of these legendary brands, particularly in respect of their own identity. In addition, we take this opportunity to reassure the VOR and dealers marks and their staff, they can count on our support at all times and regardless of the place where they are. ``
This acquisition also allows the Indian giant to become owner of the licenses and intellectual properties of these brands, including extremely important for them, because technologies are not obliged to invest even larger sums in the development of such technologies . Added to this, the Centre for research, development and design, assembly factories, community centers and distribution worldwide.
Despite the sale, Ford and Tata manufacturers continue to work together. Thus, Ford will continue to develop and provide new engines or new platforms. Current research in matters of greener technologies, such as hybrid engines, hydrogen or other will continue joint way between the two firms.
Tata Motors is one of the largest car manufacturers in India. In 2007-08, it had garnered revenue of $ 8.8 billions (U.S.). In Indian soil, he became a leader in the manufacture of commercial vehicles and ranks 2nd in the walking bus. The name of the Tata conglomerate is very well known in Asian countries, Africa and South America. Europe is about to rediscover the Tata name and there is no doubt that the steps North Americans will also discover and in a very close future, the goals from Tata Motors and others ...