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Wednesday, December 23, 1998 Published at 09:23 GMT
Business: The Company File
New plant for Rover
German car maker BMW has announced it is to spend DM2.5bn ($1.5 billion) to build a new plant for its ailing Rover subsidiary.
BMW says the location of the plant will be chosen in the next few months. The relocation is part of an effort to boost lagging productivity at Rover, where reported losses of DM500m or more have unleashed turmoil among management and workers in recent months.
Shares in BMW jumped on the news, rising 36 points or 2.97% to DM1,245.00.
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The Company File Contents
