Ford's European Restructuring Plan Leads to the Closure of Two UK Facilities, Mondeo Delayed

After announcing plans to shut down its Genk factory in Belgium at the end of 2014, Ford came out today with new details about its European restructuring efforts that include the closure of two more plants, the allocation of production, the loss of up to 6,200 jobs and other actions to increase cost efficiencies.

The announcements come against the backdrop of the persisting economic crisis in Europe with Ford estimating its loses in the region for the full year 2012 to exceed $1.5 billion (€1.15 billion).

The two additional factories receiving the axe are the Southampton Transit van plant, which is Ford's last vehicle-making facility in the United Kingdom, and its stamping and tooling operations in Dagenham, again in England.

Read more »

Ford to Shut Down its Genk Plant in Belgium, Reshuffle European Production Operations

On account of reduced demand and uncertain market prospects throughout Europe, Ford has decided to close down its underutilized Genk Plant in Belgium and to cease vehicle production by the end of 2014, which will lead to the loss of 4,300 jobs.

Ford, which is estimated to burn through more than $1billion this year in Europe, said that the move is part of a broader plan to restructure its local operations and help to address overcapacity issues curtailing from a more than 20 percent drop in total industry vehicle demand in Western Europe since 2007.

Read more »