Ford: to close Bridgend engine plant in UK

(CercleFinance.com) - Ford said on Thursday that it plans to close its Bridgend engine plant in the UK, with production to cease during 2020.


In a regulatory filing, the US carmaker said it expects to record a pre-tax special item charge of about 650 million dollars for the plant's closure.

Approximately 400 million dollars of this charge will be paid in cash, and is primarily attributable to separation and termination payments for employees, it said.

Non-cash charges of approximately 250 million dollars include pension costs and accelerated depreciation and amortization.

Ford said that most of the charges will be recorded in 2019, with most of the cash outflows occurring in 2020.

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