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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Ford Motor Company | NYSE:F | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.10 | 0.82% | 12.25 | 12.43 | 12.15 | 12.15 | 48,785,025 | 00:59:26 |
From May 2019 to May 2024
--Ford confirms the 2020 closure of Bridgend engine plant
--U.S. car manufacturer has started a consultation with staff
--Unite union said the plans will cost 1,500 jobs
By Adam Clark and Carlo Martuscelli
Ford Motor Co. (F) confirmed on Thursday that it has started a consultation with staff ahead of plans to shut down its engine plant in Bridgend, Wales, by September 2020.
The U.S. car manufacturer said that the proposal supports its strategy of creating a more efficient and focused business in Europe.
The Unite union, which first brought the plans to light, said they will cost 1,500 jobs and called on the car manufacturer to rethink the closure. The plant makes the Dragon petrol engine for a variety of Ford vehicles.
"Ford bosses should be rebalancing global engine production from Mexico and India to Bridgend. There is a global yearly market of some 500,000 for the Dragon engine and we demand our fair share of that," Steve Turner, Unite's assistant general secretary, said.
Stuart Rowley, president for Ford's European business, said that the company was required to make some difficult decisions, but that it remained committed to the U.K. He cited changing customer demand and costs for the decision.
The auto-maker said it will continue to produce engines at its Dagenham plant and it would keep its technical center in Dunton, both in southeast England. It added that it intends to help laid-off staff find new work.
Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones and Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
June 06, 2019 08:37 ET (12:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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