Honda last week confirmed it will build a new small car at its Swindon site. The company will invest £450m in a new plant which will create 1,000 jobs. Capacity will rise from 150,000 cars a year to 250,000 by 2002.
GEC gets Tracor OK
GEC has won US regulatory approval for its £800m takeover of US defence electronics firm Tracor.
New lab for Nortel
Nortel has opened a £20m laboratory at its Harlow, Essex, research site. It will house 450 engineers working on telecoms technologies such as Internet and ATM-based network architectures, high capacity fibre optic transport systems, broadband access technologies and physical design.
Hunting Engineering and British Aerospace Defence Systems say they will form a new joint company if they win the Local Area System work for the British Army’s Bowman radio.
The Export Credits Guarantee Department’s exposure for the supply of BAe Hawk jets to Indonesia, covering interest and the principal value of guaranteed loans, is now £531m. Overall ECGD exposure on defence equipment is £848m. UK exports to Indonesia fell by 50.3% in the first quarter.
Peugeot unveils 206
Peugeot has unveiled its new 206 car, the successor to the 205. It will be manufactured in Coventry from July following a £100m investment at the Ryton plant.