Ford: plant closures ahead in Europe
(CercleFinance.com) - Ford said on Thursday that it would accelerate its actions to reduce structural costs through plant closures, in order to create a "sustainably profitable" business in Europe.
The US carmaker said that production at its plant in Bordeaux, France, which manufactures small automatic transmissions, will end in August 2019.
Discussions have also begun to end production of the C-Max and Grand C-Max lines at the Saarlouis assembly plant in Germany, it said.
Moreover, Ford is currently undertaking a strategic review of its joint venture in Russia, with several significant restructuring options being considered.
Ford also said that it aims to achieve labor cost reductions through voluntary redundancies in Europe.
This new operating model is designed to better enable the businesses to make "fast decisions" that are focused on customer needs, the company said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The US carmaker said that production at its plant in Bordeaux, France, which manufactures small automatic transmissions, will end in August 2019.
Discussions have also begun to end production of the C-Max and Grand C-Max lines at the Saarlouis assembly plant in Germany, it said.
Moreover, Ford is currently undertaking a strategic review of its joint venture in Russia, with several significant restructuring options being considered.
Ford also said that it aims to achieve labor cost reductions through voluntary redundancies in Europe.
This new operating model is designed to better enable the businesses to make "fast decisions" that are focused on customer needs, the company said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.