Ford cuts European capacity

Ford cuts European capacity

Ford has announced that it will shutter its Genk, Belgium, car assembly plant, the Transit cab-chassis factory in Southampton, England, and tooling and stamping units at Dagenham, near London. The company is taking decisive action to address the problem of losing money in Europe. In the face of a declining west European car market, it's a big step - if a painful one - to removing overcapacity and lowering Ford's European costs.