Manufacturer of the off-road car Bowler, CPP Global Holdings, has announced that it is to purchase the former Jaguar site in Browns Lane, Coventry.
CPP Holdings will purchase 23 acres of the Browns Lane site from regional development agency Advantage West Midlands. It plans to submit planning applications before the end of this year, and hopes to have redevelopment work underway by 2012. The company currently employs 250 staff at four sites in the Coventry area.
CPP Holdings agreed to buy the luxury car manufacturing firm Spyker in February this year, and although both sides are confident a deal will go ahead, the buying process has stalled.
Company founders Brendan O’Toole and Vladimir Antonov both reaffirmed their commitment to retaining the city’s status as an internationally renowned centre of automotive manufacturing.
“It will help CPP to create hundreds of new jobs, establish advanced new facilities and is a major investment into the economy of the city and the surrounding region,” said Antonov.
Browns Lane was home to Jaguar car production up until 2005, after which it moved production to the West Midlands. In 2008 the firm was sold by Ford along with Land Rover to Indian-owned Tata Motors.