It is now official.
In an announcement sent out by the Ford Motor Company, the auto industry has finally confirmed the completion of the purchase of Ford’s Jaguar and Land Rover luxury brands. Tata Motors of India bought the two brands which are part of Ford’s Premier Automotive Group (PAG). The announcement did disclose that Tata Motors would be purchasing the two brands for an estimated $2.3 billion.
On the deal, Ford’s CEO and president, Alan Mulally, mentioned that with Jaguar and Land Rover being good brands, the company is confident that both of them would be able to do well with Tata handling them. He also disclosed that the decision to sell both brands was actually part of the company’s goal which was to have a stronger and more focus-driven brand.
November 26th, 2008 at 5:28 am
Auto majors eye sourcing pact with Argentum owned by Ashish Deora and Team
MUMBAI: A couple of European and Asian auto majors including Peugeot-Citroen of France are in talks with Argentum Motors to manufacture components and cars, it is reliably learnt.
Argentum is also planning to invest around Rs 500 crore to upgrade the facility. The three promoters of the company will eventually hold around 12% in the company after the debt is converted into equity and fresh investors are roped in.
“This capacity will attract a large number of global auto manufacturers as the company has all the building blocks for integrated car and component manufacturing,” said an analyst of a Mumbai-based brokerage.
http://economictimes.indiatimes.com/News/News_By_Industry/Auto/Auto_Components/Auto_majors_eye_sourcing_pact_with_Argentum/rssarticleshow/2762786.cms