Industry secretary Stephen Byers this week launched a £450m investment at Honda’s Swindon site, which will create a second factory and 1,000 new jobs.
The company will spend £130m on a new car plant, £200m on new production tooling and £130m to improve existing manufacturing facilities. The second plant will build Honda’s new small car for the European market as well as increasing production of the Accord and Civic.
Byers said: `Honda has rightly placed great faith in the skills and resources of UK workers. My priority is to ensure that we continue to provide the right business conditions to attract overseas investment to this country.’
He added that the factory would benefit Britain’s balance of payments by around £100m by 2002.
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