GERMANY: Magazine Reports Ford Europe To Post $2 Billion Loss In 2000
A German business weekly reported Wednesday (26/07/00) that Ford Motor Co.'s European operations will lose a net 4.2 billion marks ($2.02 billion) in 2000,Ford (F), based in Dearborn, Mich., wasn't immediately available for comment on the magazine story. According to Focus Money, Nick Scheele, head of Ford Europe, said the auto maker will spend 3.4 billion marks on the closure of factories and restructuring, and that the company will suffer an operating loss "at the level of a year ago," which amounted to 800 million marks.This doesn't include the Volvo and Jaguar units, the magazine reported.
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