Aston Martin to reopen South Wales factory

Luxury car-maker Aston Martin Lagonda is to reopen its South Wales factory on May 5.

The company announced that it will resume operations at its St Athan facility, following guidelines from Public Health Wales and Public Health England to protect its workforce.

It said it will take “learnings in terms of health and safety” into account when it reopens its main car plant in Gaydon, Warwickshire, at a later date.

Both sites have been closed since March 25 due to the coronavirus pandemic.

The firm also announced that its senior leadership team have agreed to a reduction in pay.

Chief executive Andy Palmer is waiving 35% of his base salary. It was previously announced that he would not be paid an annual bonus for the 2019/20 financial year.

Non-executive directors are waiving 35% of their fees. Vice presidents have agreed to a 20% reduction in their base salary and other members of senior management have been asked to accept pay cuts of up to 10%.

The salary reductions will apply for a three-month period from April 1.

The company, known for making James Bond’s cars of choice, employs around 500 staff in Gaydon and 300 in St Athan.

The majority of its employees have been furloughed.

Production staff are being paid as normal, but those who continue to be furloughed from May 1 will receive 80% of their base salaries from then.

Many car factories across the UK are closed due to coronavirus.

The pandemic has come after a dire year for Aston that left it nursing widening losses of £104.3 million in 2019.

It had already warned that sports car wholesales were expected to be “materially lower” in 2020.