Remaining jobs at Jaguar's 'Veneer Manufacturing Centre' (VMC) at Browns Lane could be saved in a new deal with Lawrence Automotive Interiors, reports say.

Media reports in Britain say that Lawrence Automotive Interiors Ltd, which is based in Nottingham, has been named as the preferred bidder and will work through final due diligence.

If a sale goes ahead, the firm has reportedly vowed to maintain the VMC for at least five years.

All 390 workers currently working at the VMC will have the option of remaining with JLR or transferring to the new owner, according to reports.

Lawrence has its head office in the UK, with a manufacturing plant in China and regional offices in France and America. It supplies trim components to the car industry around the world.

Browns Lane was formerly a Jaguar car assembly site, but car assembly ended when the firm was owned by Ford. However, the VMC was created from the production staff who remained making wood interior trim.