The latest development in this ongoing saga that is the European economic crunch is word that Ford will shutter production of its Genk Assembly Plant in Belgium, eliminating some 4,300 positions. Ford could potentially reduce costs by $300 to $500 million annually as a resulting of closing the production facility. The Genk plant currently produces the Mondeo, S-MAX and Galaxy vehicles. Assembly of these vehicles would cease at the plant by the end of 2014.
According to Ford, it lost $404 million in the European market.
Autoblog , Ford announces plan to close Belgian plant, restructure European manufacturing, Ford announces plan to close Belgian plant, restructure European manufacturing
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