March 18, 2020 / 8:23 AM / 20 days ago

BRIEF-British Automotive Holding Unit And Folwark Samochodowy Terminate Dealership And Servicing Deal

March 18 (Reuters) - British Automotive Holding SA :

* SAID ON MONDAY THAT ITS UNIT BRITISH AUTOMOTIVE POLSKA HAS SIGNED AN AGREEMENT WITH FOLWARK SAMOCHODOWY DEALERSHIP TERMINATING THE DEALERSHIP AND SERVICE DEAL UNDER WHICH SALES AND SERVICING FOR JAGUAR AND LAND ROVER CARS ARE CARRIED OUT IN KIELCE

* THE TERMINATION AGREEMENT IS EFFECTIVE MARCH 31

* THE REASON FOR TERMINATION IS A CHANGE IN THE DEALERSHIP’S BUSINESS SITUATION WHICH MAKES IT IMPOSSIBLE TO CONTINUE ACTIVITIES AIMED AT ADJUSTING THE DEALERSHIP FACILITY TO JAGUAR LAND ROVER REQUIREMENTS PREVENTING CONTINUING COOPERATION

* GROUP’S REVENUE FROM SALES TO FOLWARK SAMOCHODOWY IN 2019 AMOUNTED TO ABOUT 7 MILLION ZLOTYS

* UNIT’S STRATEGY ASSUMES CONSTANT AND ACTIVE PRESENCE ON ŚWIĘTOKRZYSKIE VOIVODESHIP MARKET, SO IMMEDIATE ACTIONS WILL BE TAKEN TOWARDS ESTABLISHING COOPERATION WITH NEW LOCAL PARTNER

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Further company coverage: (Gdansk Newsroom)

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