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Report: Ford to close down French factory by August 2019

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Report: Ford to close down French factory by August 2019

Ford Motor Co. is set to close down its Blanquefort plant in France by August 2019 after rejecting a takeover offer from transmission supplier Punch Powerglide, Reuters reported Dec. 13

The move from Ford will put the jobs of the plant's 850 employees at risk, the report said.

Ford said it would offer redundancies to the staff ahead of the plant closure, reported Paris-headquartered news agency Agence France-Presse on Dec. 13.

"[W]e do not believe that the plans presented by the potential buyer offer a level of security and protection, or limit the risk of future job losses, which we are seeking for Ford Aquitaine Industries employees," the news agency quoted Ford's local subsidiary as saying. Ford "acknowledges the commitment and efforts of the French government to develop a viable and robust takeover plan, as well as the intensive efforts from the unions of FAI and the potential buyer," it added.

France's government has been involved in negotiations to find a buyer for the Blanquefort site and had expressed its support of the bid from Punch Powerglide, the report said.

The Blanquefort plant, located near the city of Bordeaux in South West France, has produced gearboxes for Ford since 1972.