Jaguar Land Rover's owners Tata Motors has finalised a deal to sell JLR's manufacturing plant in Coventry, which is one among the two plants in the Midlands, which last September the Indian carmaker had said it would have to close.
The Veneer Manufacturing Centre (VMC) at Browns Lane Coventry that employs 390 workers is to be bought by Lawrence Automotive Interiors, which is currently conducting due diligence.
Nottingham, UK-based Lawrence Automotive is a manufacturer and supplier of premium decorative trim components to the global automotive industry with manufacturing facility in Ningbo City, China, and regional offices in France and the US.
After conducting a strategic review, Tata Motors had said in September 2009 that it would close either the Lode Lane or the Castle Bromwich plant in the Midlands. (See: Tata Motors to merge JLR plants, create additional 800 jobs)
The 390 workers at the VMC plant will have the choice of remaining with JLR or working for the new owner Lawrence Automotive.
Although closing the deal is a few months away, Lawrence Automotive said it will continue with the VMC operation as an on-going business, invest in new technology at the plant and has committed to keep the plant operational for at least five years.