Engineering
Ford: The US carmaker said that it had completed a debt restructuring, cutting $9.9 billion (£6.7 billion) from a debt pile of $25.8 billion. The group, which has not yet asked for government money, said that the reduction would cut its annual cash interest costs by more than $500 million.Car sales: Figures showed that car sales during March fell by 30.5 per cent, compared with March last year, prompting fresh calls for government assistance. The Society of Motor Manufacturers and Traders wants a scrappage programme to be introduced in the Budget due on April 22.
Saab: The administrator of the Swedish subsidiary of General Motors, the struggling American carmaker, said that about 20 potential buyers were looking at the company and a deal could be completed in June.
Jaguar Land Rover: The UK operations of the carmaker, along with Nissan, could be granted hundreds of millions of pounds in loans from the European Investment Bank in the first tranche of money from the UK Government’s £2.3 billion rescue package for the car industry.
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