Ford preparing investment of 1.5 billion pounds for UK’s plants

The British Government has handled Ford a 360 million loan guarantee that enables the company to give a step forward in its intensions of investing 1.5 billion pounds over the next five years in its four UK facilities.

The announcement was made by the Secretary of State for Business, Peter Mandelson that informed that the British Government would be backing 360 million pounds of Ford’s 450 million pounds application to the European Investment Bank (EIB). The support from the UK should help Ford getting the loan approval from the EIB and should enable Ford to proceed with its investments in the country.

Targeting projects that improve fuel efficiency and reduce emissions, Ford has applied for a total of 450 million pounds from the European Investment Bank. This money is to be invested in Ford's research and development centre in Dunton, Essex, the country's largest automotive engineering facility, and in the production plants in Dagenham, Southampton and Bridgend.

Dagenham is the plant where the engines with the fuel-saving technology ECOnetic are produced. Emitting as little as 98g CO2/km, these engines feature in Ford’s Fiesta, Focus and Transit ECOnetic models.

The Bridgend plant is getting ready to start the production of the new EcoBoost petrol engine that will feature in the new Ford C-MAX, a powertrain that will save 20 per cent more CO2 and fuel, comparing to conventional petrol-engine technology.

According to Ford of Britain chairman, Joe Greenwell, "Ford welcomes this positive support from the Government. It greatly assists in delivering Ford's commitment to invest £1.5 billion in new, affordable, volume-produced low CO2 technologies.

"Our customers will benefit from this extensive investment and so too will the 100,000 people in the UK whose jobs are directly or indirectly dependent on Ford. The loan also encourages the growth of high-technology, CO2-reducing research and development in the country”, he added.