The European Commission has approved EUR51.9m (US$72.4m) of Spanish state aid for Ford to restructure its Almussafes, Valencia plant.
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“The commission takes the view that the project, involving eligible investments of some EUR490m by Ford, will significantly contribute to the development of the region’s economy without unduly distorting competition,” it said in a statement.
“The investment guarantees the continuity of activity at the Almussafes plant and will maintain some 5,000 direct jobs at the plant.”
