Ford secures UKEF loan guarantee to build on engine exports

(Automotive Logistics, London, 10 August 2020) Ford has received a £500m ($648m) guarantee from UK Export Finance (UKEF) to help it maintain exports of engines and transmissions from the UK. The guarantee, which was given in July, is part of a planned £625m loan facility from commercial banks using its Export Development Guarantee. Last year the carmaker announced it was closing its engine factory in Bridgend, South Wales, which makes the 1.5-litre, three-cylinder engine because of declining demand.