SOLIHULL MP WELCOMES LAND ROVER DEAL

4.21.26pm UTC (GMT +0000) Mon 7th Apr 2008

Solihull MP Lorely Burt has welcomed today's announcement that Ford's sale of Land Rover to Jaguar has finally been agreed for a price of £1bn.

"This is a win-win deal" said Mrs Burt, "Land Rover and Jaguar will get the investment they need, including guarantees for the future of the Solihull and Castle Bromwich plants and for the research facilities at Gaydon. Land Rover will be able to develop exciting new brands like the LRX, allowing Ford to concentrate on their core business while still supplying engines and technologies to Land Rover and Jaguar.

'It's good for the workforce too, with Tata planning to expand production and create new jobs by 2010.'

"Tata have got a great deal with the acquisition of two world renowned marques for the British, European and American markets .

"Land Rover has enjoyed record sales for the last three consecutive years. Together Land Rover and Jaguar have provided Tata with a solid, profitable investment for the future.

"Ford will also put £600m into the Jaguar/Land Rover pension pot to bolster pensions."