Ford announced it will make an investment of £24 million ($35 million) in its Bridgend engine plant, UK.
This is Ford’s first big investment since last fall when it announced the closure of two plants in the UK and it will allow the Bridgend plant to manufacture the company’s new global 1.5-liter EcoBoost engine, also increasing the facility’s workforce to 2,300 employees.
“Ford is expanding,” said Fallon in Detroit to give a speech at the Society of Automotive Engineers 2013 World Congress. “Automotive in Britain is now a success story. We’re exporting more by value than we’re importing for the first time in 30 years. We’ve had a huge turnaround.”
The irony is that Ford still plans to close the plants in Southampton and Dagenham, U.K. by the end of this year, after it has lost around $1.75 billion in Europe in 2012. Ford will begin manufacturing the 1.5-liter EcoBoost engine at the Bridgend plant in 2014, alongside the 1.6-liter EcoBoost engines, which are exported to Sweden, Spain, Germany, Belgium, the US and Russia. This investment includes £24 million offered by Ford and £12 million offered by the Welsh Government.
“The Welsh Government has greatly assisted in maximizing the full potential of Ford’s own investment in Bridgend and we are pleased to meet today with the Welsh First Minister and the Minister for Economy to recognize this successful partnership,” said Ford of Britain managing director Mark Ovenden.
Source: The Detroit News