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Barron's budget
Page 15
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• Ford is planning to invest .0,460 million in Britain over the next five years on the development of new vehicles, and .E550 million on new engines and transmissions — possibly including a below twolitre high-speed direct injection engine.
News of the massive spending programme was announced this week by the recently-appointed chairman and chief executive of Ford Motor Company, Derek Barron.
According to Barron, Ford's current capital stake in Britain is now more than £5.500 million, despite its withdrawal Iron) the truck business with the formation of lveco Ford Truck. New petrol and diesel engines to be produced at Dagenham and Bridgend would make Britain the centre of Ford's engine technology in Europe. More than 80% of British engine production is to be exported, says Barron.
Since 1984, productivity in Ford's UK plants — measured in terms of vehicles per manufacturing employee — have increased by more than 50%.