Sanjeev Gupta’s GFG Alliance sells two car parts factories in EnglandPlant in Essex will still shut despite Jaguar Land Rover finding buyer for sites owned by Sanjeev Gupta’s firmSanjeev Gupta’s GFG Alliance has sold two aluminium parts factories after Jaguar Land Rover (JLR) stepped in to secure a vital part of its supply chain. GFG has gone through months of restructuring since the collapse of its key lender, Greensill Capital, in March. The Midlands sites produce lightweight aluminium parts mainly for car powertrains. British automotive suppliers are struggling with reduced sales as the global shortage of computer chips causes carmakers to slow production of their models. Evtec, which is pushing into making parts for electric cars, earlier this year rescued another of JLR’s ailing suppliers, Arlington Automotive.

Source: The Guardian December 06, 2021 00:55 UTC