Japanese carmaker Honda sells its only plant in Britain

Japanese carmaker Honda has agreed to sell its only plant in Britain. According to Reuters, the plant is being bought by the Panattoni logistics group, which is planning large-scale investments in it. The Japanese company decided to leave Britain in February 2019, when it announced that it would close the plant in the summer of 2021, but then informed that this step was not related to Britain's departure from the European Union. The reason was global trends in the automotive industry. The company's Japanese car sales in Britain were declining and the company said it had to focus on regions where it could expect better results. The buyer for the Swindon plant, which it bought in 1985, has been looking for Honda since the announcement of its closure, the British daily The Financial Times reported. Panattoni has promised to invest approximately £ 700 million (€ 818.68 million) in the plant and create "thousands of new opportunities" after its transformation.