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10-06-2019 15:33 | Read 462 times

Ford to close plant in latest blow to UK car sector

FORD said it would close its plant in Bridgend, south Wales next year because of falling demand for some of its engines, putting 1,700 jobs at risk in a further blow to Britain's once booming car industry.

Ford to close plant in latest blow to UK car sector

Ford, which will take a roughly $650 million pre-tax charge to cover the cost of closing the plant, is making cuts in several countries to turn around loss-making operations in a stagnating European car market.

The US automaker has also repeatedly warned the UK government that it needs free trade to be maintained with the European Union after Britain leaves the bloc, but said Thursday's announcement "has nothing to do with Brexit".

Production of Ford's 1.5-litre petrol engine, which has seen lower demand, will end in February, whilst a contract to supply Jaguar Land Rover finishes in September 2020.

Britain's once thriving car sector, rebuilt since the 1980s mainly by foreign carmakers, has suffered slumps in sales, output and investment over the past two years.

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