TOKYO (Reuters) – Honda has agreed to sell the only British plant in Swindon in southern England to logistics giant Panattoni, a company spokesman said on Saturday, as the new owner plans to make a large investment in the extended site.
The Japanese manufacturer, which is building about a tenth of the production of 1.5 million cars in the UK, made the decision two years after announcing its intention in 2019 to stop production at its plant in Swindon. The plant is expected to bring 3,500 jobs closer.
Honda, which has been fighting in Europe, said the closure of the plant is not linked to Britain’s departure from the European Union, but must focus on activities in regions where most cars are expected to sell.
Panattoni said it is investing £ 700 million ($ 965 million) in its logistics development to create new jobs once Honda completes the decommissioning of the factory that builds its Civic hatchbacks. probably in the spring of next year, the Financial Times reported earlier.
The latest move follows the decisions of electronics companies Sony and Panasonic to move their headquarters to the EU from the UK, while Hitachi has deposited a nuclear power project in the UK amid Brexit.
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Reporting by Eimi Yamamitsu and Tetsushi Kajimoto; Edited by Shri Navaratnam