Discussion
Trimmed extract from Midlands Insider today, my highlighting >
"Jaguar Land Rover has taken the lease on an 11-acre site bordering its Castle Bromwich facility. The site is currently home to the Dunlop Motorsport tyre manufacturing plant and the move has raised worries for the future of its 180 workers.
The news follows Whitley-headquartered JLR unveiling a record-breaking year for revenues and profits.
JLR's chief executive hailed strong demand across the globe as the driving force behind the results. Operating profit in the vehicle maker's final quarter climbed by more than 40 per cent to £856m amid further growth in China and new product launches.
The period to 31 March 2013 has been filled with record-breaking months and soaring sales figures for JLR, culminating in record revenues and profits for the full year.
Operating profit for the year stood at £2.4bn and pre-tax profit was £1.68bn, a rise of 11 per cent on £1.5bn in the previous 12 months.
Chief executive Ralf Speth said: "The positive result for the financial year demonstrates that we have strong demand for our great, solid product portfolio all around the world.
"During this period Jaguar Land Rover unveiled major new products, the all-new Range Rover and the Jaguar sportbrake, the AWD XF and AWD XJ and the stunning F-TYPE."
Following JLR announcing its full-year performance, news of the lease agreement for the Dunlop Motorsport site emerged.
Dunlop Motorsport said in a statement: "We have confirmation from our landlord that they have agreed to sell the Fort Dunlop Motorsport site in Birmingham to Jaguar Land Rover. Our lease agreement remains valid until the expiry of the current lease contract in May 2014."
Goodyear Dunlop employs about 930 staff in the UK, with more than 500 across its manufacturing sites in Birmingham and Wolverhampton. Turnover at the UK company fell by more than £15m in the year to 31 December 2012 to £316.3m with pre-tax profit climbing from £13m to £18.5m.
JLR added in a statement: "Jaguar Land Rover has exchanged unconditional contracts with Canmoor Developments Ltd to acquire approximately 11 acres of land adjacent to its Castle Bromwich manufacturing plant.
"Jaguar Land Rover continues to work in partnership with local authorities and businesses to ensure that our growth plans support the local economy and community."
"Jaguar Land Rover has taken the lease on an 11-acre site bordering its Castle Bromwich facility. The site is currently home to the Dunlop Motorsport tyre manufacturing plant and the move has raised worries for the future of its 180 workers.
The news follows Whitley-headquartered JLR unveiling a record-breaking year for revenues and profits.
JLR's chief executive hailed strong demand across the globe as the driving force behind the results. Operating profit in the vehicle maker's final quarter climbed by more than 40 per cent to £856m amid further growth in China and new product launches.
The period to 31 March 2013 has been filled with record-breaking months and soaring sales figures for JLR, culminating in record revenues and profits for the full year.
Operating profit for the year stood at £2.4bn and pre-tax profit was £1.68bn, a rise of 11 per cent on £1.5bn in the previous 12 months.
Chief executive Ralf Speth said: "The positive result for the financial year demonstrates that we have strong demand for our great, solid product portfolio all around the world.
"During this period Jaguar Land Rover unveiled major new products, the all-new Range Rover and the Jaguar sportbrake, the AWD XF and AWD XJ and the stunning F-TYPE."
Following JLR announcing its full-year performance, news of the lease agreement for the Dunlop Motorsport site emerged.
Dunlop Motorsport said in a statement: "We have confirmation from our landlord that they have agreed to sell the Fort Dunlop Motorsport site in Birmingham to Jaguar Land Rover. Our lease agreement remains valid until the expiry of the current lease contract in May 2014."
Goodyear Dunlop employs about 930 staff in the UK, with more than 500 across its manufacturing sites in Birmingham and Wolverhampton. Turnover at the UK company fell by more than £15m in the year to 31 December 2012 to £316.3m with pre-tax profit climbing from £13m to £18.5m.
JLR added in a statement: "Jaguar Land Rover has exchanged unconditional contracts with Canmoor Developments Ltd to acquire approximately 11 acres of land adjacent to its Castle Bromwich manufacturing plant.
"Jaguar Land Rover continues to work in partnership with local authorities and businesses to ensure that our growth plans support the local economy and community."
Gassing Station | Radical | Top of Page | What's New | My Stuff