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Ford French plant bought by German firm – minister

  Ford Motor Co’s factory in Blanquefort in western France will be acquired by a German industrial group, Economy Minister Christine Lagarde said on Monday, adding that 1,600 jobs at the plant would be saved.

“The factory will not close,” Lagarde told France 2 television. “All the jobs have been saved.” She said the site, which makes gearbox components and which had been due to close next year, had been bought by a family-owned German company specializing in auto and wind power components.

She did not name the firm but according to the regional daily Sud Ouest, Johann Hay, a mid-sized company based in Bad Sobernheim, near Frankfurt is the buyer. Ford could not immediately be reached for comment. Lagarde said details of the deal would be announced later on Monday. (Reuters)