Ford Investor Backs Out, Leaving Future of German Factory in Air
06 October 2023 - 2:12AM
Dow Jones News
By David Sachs
A pending deal between Ford and an unnamed investor to fund the
American carmaker's plant in Saarlouis, Germany, has collapsed,
leaving the future of the factory uncertain.
The potential investor pulled out after having signed a
nonbinding agreement in June, Ford confirmed Thursday.
"Following a rigorous due diligence process and negotiation,
which also included the Saarland government, the investor decided
not to go ahead with the project," Ford said.
The factory will stop making the Focus model starting 2025. Ford
said it would pursue an alternative plan that includes maintaining
and creating 1,000 positions at the factory, and attracting smaller
investors for a technology center.
The factory currently provides 4,500 jobs, German business
newspaper Handelsblatt reported Thursday.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
October 05, 2023 10:57 ET (14:57 GMT)
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