.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
Ford Performance Vehicles was originally established as a joint venture with Prodrive, an English engineering and motorsport specialist, but Ford Australia is now buying its former partner's controlling stake.
The move means 32 job losses at FPV but Ford is hopeful that extra work at Broadmeadows will allow it to slightly reduce the 440 redundancies recently announced at its manufacturing operation.
The decision to absorb FPV was not unexpected, as PFV recently notified its supplies that it had no ongoing production plans beyond the end of the year. Ford admits the FPV operation had become marginal in its current form, with the business totally reliant on support for hotrod Falcons at a time when overall showroom support for the company's headliner is fading fast.
“We as the two partners, were looking at the business longer term. We didn't see it as a viable business in its current configuration,” admits Bob Graziano, president of Ford Australia. “So the joint venture will cease to exist. We are buying the assets.” Graziano refuses to reveal the financial cost of the change, which is likely to be more than $20 million, but says the deal should be complete by December.
.jpg)
.jpg)
Comments