Tata-owned JLR to build new Jaguar F-type sports car

JLR intends to invest around 200 million pounds on expanding the facility by 50%

London: India's Tata-owned Jaguar Land Rover is planning to expand its plant at Castle Bromwich to build new Jaguar models and overhaul the brand, reports PTI.

According to The Telegraph, JLR intends to invest around 200 million pounds on expanding the facility by 50%.

The company will manufacture the new Jaguar F-Type sports car, the successor to the historic E-type, at the Castle Bromwich plant.

The investment plans come just three years after the factory was threatened with closure as JLR considered cutting its UK workforce in order to cope with a sharp drop in sales, the newspaper said.

It is understood the investment in Castle Bromwich has been discussed with trade unions ahead of a vote on a new pay deal at JLR, it said.

The expansion of the factory is a boost for the coalition government, which is seeking to increase British exports and rebalance the economy, the Telegraph said.

JLR is benefiting from booming demand for its premium cars in emerging markets such as China.

The company has invested in its Solihull site and earlier this year it kicked off a search for 1,000 new workers in Halewood, Merseyside, to increase production of the popular Range Rover Evoque, the report said.

So far the turnaround at the company has been led by Land Rover.

In the first quarter of 2012 JLR sales in Europe rose 24.9% to 20,734.

But Jaguar sales rose by 7% to just 4,164, while Land Rover sales increased 30% to 16,570 during the period.

To kickstart the growth of Jaguar, the company wants a convertible version of the F-Type to go on sale next year, followed by the launch of a coupe.

JLR is investing 1.5billion pounds a year on research and development and wants to launch 40 new models or variants of new models in the next five years, the newspaper said.

The company is on course for record pre-tax profits this year of around 1.5 billion pounds, thanks to demand for the Range Rover Evoque, the Telegraph added.

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COMMENTS

James

2 years ago

Dad just bought one of the F type devilish machines. It is a little on the heavy side weighing in at 1594kg. But what a ride. I got thrown back in my seat when we took off on the freeway. Its sexy. You should here the engine I have never heard anything like it whooping, pops, bangs listen over here http://www.caradvice.com.au/jaguar/f-typ...

Aventis Pharma Q1 net profit dips 21% to Rs40 crore

Net sales of the company rose to Rs322.5 crore for the first quarter ended 31 March 2012, as compared to Rs276.3 crore in the corresponding period of last year.

New Delhi: Aventis Pharma said its net profit declined by 20.75% to Rs40.1 crore for the first quarter ended 31 March 2012, over the same period previous year, reports PTI.

The pharmaceutical company reported a net profit of Rs50.6 crore in the same period of previous year, Aventis Pharma said in a BSE filing.

"The profit of the quarter has been impacted due to the amortisation costs relating to the brands and technical know how acquired in 2011 from Universal Medicare and lower interest income as a result of the above investment," it said.

Net sales of the company rose to Rs322.5 crore for the first quarter ended 31 March 2012, as compared to Rs276.3 crore in the corresponding period of last year.

The company's board recommended a final dividend of Rs29 per share of a face value of Rs10 for the year ended 31 December 2012.

At 10:51 a.m., Aventis Pharma shares were trading at Rs2100 per share, down 1.78%, on the Bombay Stock Exchange, while the benchmark Sensex was marginally lower at 17,022.

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Marico Q4 net profit down 4% to Rs69.5 crore; sales at Rs918 crore

Net sales rose to Rs917.71 crore in the quarter under review from Rs746.76 crore in the year-ago period

Mumbai: Homegrown consumer goods player Marico reported a 4% decline in consolidated net profit at Rs69.48 crore for the fourth quarter ended 31 March 2012, reports PTI.

The maker of Parachute hair oil had posted a net profit of Rs72.43 crore in the same period of previous fiscal as it had made an exceptional gain by the asset sale in the year ago quarter.

"It is not a decline of 4%. Last year we sold our oil brand 'Sweekar' and there were some other adjustments too that we had to make. So, overall, it is an increase of 9% if you don't consider these aspects," Marico Group chief financial officer Milind Sarwate told PTI.

Net sales rose to Rs917.71 crore in the quarter under review from Rs746.76 crore in the year-ago period.

For the full year, the company posted a net profit of Rs322.06 crore against Rs291.44 crore a year ago, as sales rose to Rs3,996.81 crore from Rs3,125.95 crore in FY11.

Parachute coconut oil in rigid packs, the focus of its portfolio, grew around 11% in volume over FY11, Sarwate said, adding the food brand Saffola contributed about 15% to the turnover and it is expected to maintain a healthy growth.

The hair oils portfolio under the Parachute Advanced brand, Nihar and Hair and Care franchises continued to grow rapidly. The firm is now focusing on scaling up its presence in the value-added hair oil sub segments, Sarwate said.

During FY12, Marico improved its market share in the coconut oil category to about 55%, the company said.

On a pricing, Sarwate said it is difficult to revise price downwards as of now even though input costs have eased slightly. "We will wait and see the trend in raw material prices first before taking a decision. It is not easy to keep shifting the prices in the consumer space," he added.

At 10:53 a.m., Marico shares were trading marginally lower at Rs177.50 per share on the Bombay Stock Exchange, while the benchmark Sensex was marginally lower at 17,040.

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