Jaguar Get Loans from Bank of India

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Car manufacturers who are experiencing financial problems, Jaguar Land Rover, said it had received a loan of 175 million pounds or approximately 278 million U.S. dollars from the State Bank of India. "We are very pleased our funding plan developed and valued confidence shown by our banking partners in our business," said Head of Finance Kenneth Gregor Jaguar AFP quoted as saying on Thursday (8 / 10).

For your information, India's Tata Motors bought Jaguar Land Rover for 2.3 billion dollars last year, but the difficulties in the global automobile sector decline. In 2008, point has cut 2500 production by reducing labor, freeze bonus payments and canceled in response to the economic crisis.

The loan is expected to improve the financial Jaguar. The company, last month planned to close factories as part of England a broader restructuring.

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