Honda in £267m UK expansion
Thursday 06 September 2012
Japanese car giant Honda has announced a £267 million investment programme at its Swindon plant, where hundreds of new jobs have been created to boost production.
The firm said it was the biggest single investment at the site in over a decade, supporting the introduction of a new Civic, a new CR-V model and a new 1.6 litre diesel engine.
Around 500 new workers have been recruited this year as part of the expansion plans, taking the total workforce to 3,500.
Business Secretary Vince Cable, who is visiting the plant on Thursday, said: "This multi-million pound investment by Honda in its 20th year of car production in the UK is great news for Swindon and the automotive sector. Having created a host of new jobs, the investment supports Government's ambition to encourage new investment and exports as a route to renewed growth and a more balanced economy."
Production at the plant is forecast to double by the end of the year to 183,000 cars compared with 2011, rising to 250,000 within the next three years.
The Swindon factory builds cars and engines for more than 60 countries across Europe, the Middle East, Africa and Australia, with 60% of production going for export.
Dave Hodgetts, managing director of Honda UK, said: "This investment programme underpins Honda's commitment to manufacturing in Britain and to our UK workforce. It reaffirms the Swindon plant's position as the cornerstone of Honda's European operations, as it has been for the past 25 years."
Honda has invested more than £1.5 billion in the 370-acre Swindon site.
Katja Hall, the CBI's chief policy director, said: "Honda's announcement once again highlights the strength of the automotive sector, even in challenging times. This major investment demonstrates the competitiveness of UK manufacturing, and will also bring significant benefits to the wider supply chain.
"The fact that car production grew for the 13th consecutive month in July shows the UK is a leading location for motor manufacturers."
- 1 Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
- 3 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 4 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...