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| £70m investment for Ford factory | £70m investment for Ford factory |
| (10 minutes later) | |
| Ford has announced a £70m investment at its engine plant at Bridgend in south Wales. | Ford has announced a £70m investment at its engine plant at Bridgend in south Wales. |
| The company announced that the factory, which employs 2,000 workers, will produce a new generation of low CO2 petrol engines. | The company announced that the factory, which employs 2,000 workers, will produce a new generation of low CO2 petrol engines. |
| First Minister Rhodri Morgan said it would secure the plant's future. | First Minister Rhodri Morgan said it would secure the plant's future. |
| The company has invested more than £300m at the 28-year-old plant over the last five years. Capacity will increase to almost one million engines a year. | The company has invested more than £300m at the 28-year-old plant over the last five years. Capacity will increase to almost one million engines a year. |
| First Minister Rhodri Morgan said the decision would secure the future of the plant "well into the medium term". | First Minister Rhodri Morgan said the decision would secure the future of the plant "well into the medium term". |
| He said it would mean a "very secure future" for the Bridgend factory. | He said it would mean a "very secure future" for the Bridgend factory. |
| The plant is Wales' third largest manufacturing plant, behind Airbus and Corus at Port Talbot. | The plant is Wales' third largest manufacturing plant, behind Airbus and Corus at Port Talbot. |
| It currently employs 2,000 but it could see numbers rise to 2,100 although Ford was being cautious in the current economic climate. | It currently employs 2,000 but it could see numbers rise to 2,100 although Ford was being cautious in the current economic climate. |
| The new engines will go into production within two years and will be among the first of a new generation of petrol engines expected to provide up to 20% better fuel economy and 15% lower CO2 emissions. | The new engines will go into production within two years and will be among the first of a new generation of petrol engines expected to provide up to 20% better fuel economy and 15% lower CO2 emissions. |
| 'Shaft of light' | 'Shaft of light' |
| John Fleming, chief executive of Ford Europe said: "The Bridgend team will play an important role in delivering these new engines which add an innovative ingredient to petrol engine technology and deliver a combination of low emissions and efficient performance that will be vital to meet future customer needs around the world." | John Fleming, chief executive of Ford Europe said: "The Bridgend team will play an important role in delivering these new engines which add an innovative ingredient to petrol engine technology and deliver a combination of low emissions and efficient performance that will be vital to meet future customer needs around the world." |
| Bridgend plant manager Graham Edwards said: "The new engine programme will help preserve existing jobs and skills. This has been a real team effort." | |
| The investment includes £13.4m from the Welsh assembly government and Mr Morgan said they had turned round the grant application by Ford in two months to secure the expansion. | The investment includes £13.4m from the Welsh assembly government and Mr Morgan said they had turned round the grant application by Ford in two months to secure the expansion. |
| He said the Bridgend plant will be the sole global source of the clean energy engine and it was a "real feather in the cap" for Wales. | |
| Mr Morgan acknowledged this latest investment was "a bit of a shaft of light in the surrounding gloom" of recession in the motor industry. | Mr Morgan acknowledged this latest investment was "a bit of a shaft of light in the surrounding gloom" of recession in the motor industry. |
| On Monday Llanelli-based car parts plant announced it was cutting 60 jobs blaming the global economic downturn. | On Monday Llanelli-based car parts plant announced it was cutting 60 jobs blaming the global economic downturn. |
| Affordable housing | |
| Mr Morgan added: "There will be this churn in the economy, You'll get good news and bad news running side-by-side and we have to face the fact that there'll be more bad news than good news. | |
| "But we mustn't pretend that its all bad news when its clearly not." | |
| He said in the face of economic recession the assembly government was striving to be more creative in its strategies although he said they could not create a market for products if its not there. | He said in the face of economic recession the assembly government was striving to be more creative in its strategies although he said they could not create a market for products if its not there. |
| He said they were having to reprioritise and look at areas such as affordable housing and schools and hospitals where opportunities were available. | He said they were having to reprioritise and look at areas such as affordable housing and schools and hospitals where opportunities were available. |
| "What we are looking for is to bring forward those projects which employ the most number of people," said Mr Morgan. | "What we are looking for is to bring forward those projects which employ the most number of people," said Mr Morgan. |