The Japanese multinational automobile manufacturer, Honda is selling its swindon car plant to property developer Panattoni, which is an international real estate developer specialising in industrial real estate and warehouses.
This move could possibly give a lifeline to 4,500 workers, The company has been searching for a buyer since announcing plans two years ago to close the facility this summer.
One of the Europe’s largest logistics company, Panattoni, has pledged to invest £700m in the site, which previously produced Honda’s popular Civic hatchback, and in-turn create thousands of jobs opportunities.
Robert Buckland, The Member of Parliament for South Swindon said because of the sale there will be a much clearer plan for the future of the site which would create more jobs as it is currently switched to mixed industrial and logistical use.
Jason Smith, The manufacturing director of Honda said
“We are pleased to have identified a capable new owner of the site.
“From our engagement with Panattoni and initial discussions with Swindon Borough Council, we are confident that the new owner can bring the development forward in a commercially timely fashion and generate exciting prospects for Swindon and the wider community.”
matthew byrom, The Managing Director of Panattoni said
“The redevelopment of this strategic employment site will deliver thousands of new opportunities in roles which underpin the operation of the local and regional economy.”
Steve Preddy, of Unite union said
“It is of the utmost importance that all stakeholders, including local and national government, Honda and Panattoni,
“ensure that manufacturers are given every incentive to make the site their home. Swindon and the whole of the South West have a proud manufacturing legacy, especially in industries such as automotive and aerospace.”
