Ford Motar

Released on : 26th March, 2008 Tata push backs enters into Definitive Agreement with fording for grease ones palms of mountain lion Land spider Tata labors today announced that it has entered into a important agreement with the get across Motor Company for the purchase of Jaguar Land Rover, comprising brands, plants and Intellectual Property Rights. The transfer of ownership to Tata Motors is evaluate to close by the end of the next quarter, subject to relevant regulatory approvals. The total amount to be paid in cash by Tata Motors for Jaguar Land Rover upon shut will be approximately US $2.3 billion. At closing, Ford will then contribute up to approximately US $600 million to the Jaguar Land Rover pension plans. Commenting on the agreement, Chairman of Tata Sons and Tata Motors, Mr. Ratan N. Tata, said, We be very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous appraise for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while guardianship true to our principles of allowing the management and employees to bring their experience and expertise to jut out on the growth of the business. Mr.

Alan Mulally, President and CEO of the Ford Motor Company, said, Jaguar and Land Rover are terrific brands. We are confident that they are leaving our fold with the products, plan and team up to continue to thrive under Tatas stewardship. Now, it is time for Ford to brook on integrating the Ford brand globally, as we follow up our plan to create a strong Ford Motor Company that delivers profitable growth for all. As part of the transaction, Ford will continue to supply Jaguar Land Rover for differing periods with powertrains, stampings and other vehicle components, in addition to a mixture of technologies, such as environmental and platform technologies. Ford also has committed to provide... If you want to get a full essay, gild it on our website: Ordercustompaper.com

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