JCB's Sir Anthony Bamford eyes Jaguar

Flushed with success after his company smashed the land speed record for a diesel powered vehicle, Sir Anthony Bamford has hinted that he could bid for British car manufacturer Jaguar.

The JCB chairman said he would buy the troubled carmaker if current owner Ford was willing to separate it from UK-based luxury car unit Premier Automotive Group (PAG), which also makes Land Rover, Aston Martin and Volvo cars.

According to a report in the Financial Times, Bamford, who dreamt up the scheme to break the diesel land speed record  in order to promote British engineering and the JCB444 engine that powers the Dieselmax, said he wanted to see a "British solution" to Jaguar's problems.

He confirmed his own interest in taking on the prestigious marque, saying: "If they (Ford) can separate Jaguar out (from Land Rover), then I'd like to buy it."

Ford was reported to have pumped £1.2bn into Jaguar in December to keep the ailing manufacturer afloat. Jaguar posted pre-tax losses of £429.3m for 2004. By comparison, JCB recorded a record £110m profit in 2005, on the back of a £1.42bn turnover.