The Brit-based construction machinery company and lovers of jazz hands, JCB, has reportedly decided to cut and run from the pursuit of FoMoCo's Jaguar division. JCB spokesman Daniel Ward and Sir Anthony Bamford, chairman of the company, both confirmed today JCB is ceasing talks with Ford leadership after it was learned Ford was only interested in a package deal combining the sale of the un-profitable Jaguar and the profitable Land Rover division. The Financial Times is quoting Bamford as saying:
"I am not interested in buying the two together and am therefore not getting involved."
Probably a good idea, Sir Bamford — why would you ever want to buy a profitable nameplate? Plus, it totally wouldn't make sense to buy an off-road nameplate like Land Rover to use in cross-branding with your construction machines like CAT's gone and done, right? I mean, that'd make as much sense as wanting to sell a profitable nameplate. Maybe it's just me but I feel like Ford and JCB have the business acumen to be a match made in heaven.
JCB group drops pursuit of Ford's Jaguar division [Detroit News]
Related:
Breaking Bond From FoMoCo! Ford's Looking To Sell Aston Martin [internal]