Jaguar is selling off its famous Browns Lane factory in Coventry, bringing to an end a 40-year association with the site.
The firm is selling Browns Lane to Delamar, which makes supplies for the construction industry, and creating a new science and business park at Whitley. The Browns Lane work - mainly wood veneering - will be switched to the new base, from where it will supply not only Jaguar but also Aston Martin and Land Rover. Delamar is expected to create 2000 jobs as it moves into the Browns Lane site.
Jaguar and Land Rover CEO Geoff Polites said, 'This is a win-win situation. It's a win for Coventry because Browns Lane will remain a key manufacturing location and will create many new jobs for the area.
'It's a win for Whitley because hundreds of skilled new jobs will come to the science and business park, not only for Jaguar but for other potential employers as well. And it's a win for Jaguar because it takes us another important step forward in our business recovery.'