Jun 3, 2008

Tata heeft Jaguar en Land Rover definitief overgenomen

Het lijkt een formaliteitje, maar toch niet onbelangrijk om te melden: Tata heeft voor 2,3 miljard dollar Jaguar en Land Rover overgenomen. Of om eens de knuppel in het hoenderhok te gooien: “Derdewereldland” India neemt de kroonjuwelen van zijn voormalige overheerser over.

Nog geen jaar geleden stond ik in een paleis in de Indiase stad Mysore mij te vergapen aan de pracht en praal. De gids wees naar de grond, waar ik een putdeksel zag. Dat bleek de bedoeling zijn, want volgens de gids kwamen deze uit Engeland. Hij was daar bijzonder trots op dat de putdeksels in het paleis gemaakt waren in Engeland en naar India verscheept waren. Ik kan me zo voorstellen dat deze “oergevoelens” ook een geweldige driver zijn geweest voor Tata om Jaguar en Land Rover te kopen. De andere kant van de medaille is dat de uitverkoop van de Britse automobielindustrie nu helemaal en definitief compleet lijkt (voor zover die dat nog niet was).

David Smith, de voormalige baas van Land Rover en Jaguar, blijft ook onder eigenschap van Tata voorlopig CEO. Andere zaken veranderen ook nog niet zo snel: zo blijven Land Rover en Jaguar voorlopig motoren en andere componenten van Ford gebruiken.

Tata Motors completes acquisition of Jaguar Land Rover

Mumbai, June 2, 2008: Tata Motors today acquired the Jaguar Land
Rover businesses from Ford Motor Company for a net consideration of US $2.3
billion, as announced on March 26, in an all-cash transaction. Ford has
contributed about US $600 million to the Jaguar Land Rover pension plans.

Mr. Ratan N. Tata, Chairman of Tata Sons and Tata Motors, was
present at the handing over ceremony at the head quarters of Jaguar Land Rover
at Gaydon in the UK along with Mr. Don Leclair, the Executive Vice President and
Chief Financial Officer of Ford Motor Company, and Mr. Lewis Booth, Executive
Vice President of Ford Motor Company, who has responsibility for Ford of Europe,
Volvo and Jaguar Land Rover.

Commenting on the occasion, Mr. Tata
said, “This is a momentous time for all of us at Tata Motors. Jaguar and Land
Rover are two iconic British brands with worldwide growth prospects. We are
looking forward to extending our full support to the Jaguar Land Rover team to
realise their competitive potential. Jaguar Land Rover will retain their
distinctive identities and continue to pursue their respective business plans as
before. We recognise the significant improvement in the performance of the two
brands and look forward to this trend continuing in the coming years. It is our
intention to work closely to support the Jaguar Land Rover team in building the
success and preeminence of the two brands.”

Tata Motors confirmed
that Mr. David Smith, the acting Chief Executive Officer of Jaguar Land Rover,
would be the new CEO of the business. Mr. Smith has 25 years of experience with
Jaguar Land Rover and Ford. Before recently returning to Jaguar Land Rover as
its Chief Financial Officer, he was Director Finance and Business Strategy for
PAG and Ford of Europe.

Mr. Smith said, “We are very pleased with
the association with Tata Motors. We look forward to a sustained bright future
for the company and its stakeholders.”

Jaguar Land Rover has been
acquired at a cost of US$ 2.3 billion on a cash free, debt-free basis. The
purchase consideration includes the ownership by Jaguar and Land Rover or
perpetual royalty-free licences of all necessary Intellectual Property Rights,
manufacturing plants, two advanced design centres in the UK, and worldwide
network of National Sales Companies.

Long term agreements have
been entered into for supply of engines, stampings and other components to
Jaguar Land Rover. Other areas of transition support from Ford include IT,
accounting and access to test facilities. The two companies will continue to
cooperate in areas such as design and development through sharing of platforms
and joint development of hybrid technologies and powertrain engineering. The
Ford Motor Credit Company will continue to provide financing for Jaguar Land
Rover dealers and customers for a transition period. Tata Motors is in an
advanced stage of negotiations with leading auto finance providers to support
the Jaguar Land Rover business in the UK, Europe and the US, and is expected to
select financial services partners shortly.

About Tata

Tata Motors is India’s largest automobile company, with
revenues of US$ 8.8 billion in 2007-08. With over 4 million Tata vehicles plying
in India, it is the leader in commercial vehicles and among the top three in
passenger vehicles. It is also the world’s fourth largest truck manufacturer and
the second largest bus manufacturer. Tata cars, buses and trucks are being
marketed in several countries in Europe, Africa, the Middle East, South Asia,
South East Asia and South America. Through subsidiaries and associate companies,
Tata Motors has operations in South Korea, Thailand and Spain. It also has a
strategic alliance with Fiat. (www.tatamotors.com )

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