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2/13, 12:09 PM (Source: TeleTrader)
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Ford: Competitiveness in wake of Brexit is priority

Ford Motor Co. reiterated on Wednesday that it has urged the United Kingdom's lawmakers and government to avoid a so-called hard Brexit, withdrawal from the European Union without an arrangement. Reacting to anonymous sources from a report that it informed Prime Minister Theresa May that its production would be moved out of the company, the automotive giant repeated a disorderly divorce would be "catastrophic for the UK auto industry and Ford’s manufacturing operations in the country."

The statement closely resembled an announcement from one month ago, but it had a new sentence: "We will take whatever action is necessary to preserve the competitiveness of our European business." The company also left out that it sees no deal "as the least likely outcome given how damaging it would be." As Parliament rejected the existing agreement with the EU, the management said in January that "the situation is highly uncertain."

The unconfirmed news story indicated the carmaker is developing alternative capacity overseas instead of facilities in Dagenham, Bridgend and Halewood.

Breaking the News / IT