Ford Motor Company will invest hundreds of millions of dollars in its
plant in Cologne, Germany, while making moves to cut costs at plants
throughout Europe, according to the Associated Press (AP). The Cologne
plant will share production with the factory in Craiova, Romania, of a
new small-displacement EcoBoost gasoline engine; AP reports that a
German government official puts the company's investment there at
approximately US$260 million but that Ford would not confirm the dollar
amount. AP also says that Ford will institute four-day workweeks, cut
shifts, and cut production of certain models at other factories in
Europe in order to avoid job losses. "Cutting capacity, reducing costs,
and safeguarding our future product plans are essential actions for
Ford of Europe to sustain a viable business for the future," says John
Fleming, chief executive of Ford of Europe, as quoted by AP.
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