Ford Announces New $155 Million Engine Plant in Cleveland

Ford Motor Co., in a move boosting its factory investments without new hiring, a

Ford Motor Co., in a move boosting its factory investments without new hiring, announced on Friday, that it is investing $155 million and creating 60 jobs at an engine plant in suburban Cleveland, to build a fuel-efficient V-6 engine for the 2011 Mustang.

Bill Russo, Director of Manufacturing for Ford's powertrain operations, said, "Ford is absolutely committed to delivering class-leading fuel efficiency with every new vehicle we introduce, and this investment in Cleveland provides further proof", adding that the plant will be a "hub for the future of Ford powertrains".

"This facility has the flexibility and the expertise to help us meet customer demands for fun, fuel-efficient vehicles, and it represents the future of advanced manufacturing in North America", he said.

Derrick Kuzak, group Vice President for Global Product Development, said the 3.7-liter engine "uses premium technology to deliver the power, the feel, the fuel efficiency, even the sound of the best sports coupes in the world".

The auto giant said it is investing $1.8 billion and adding 1,260 jobs across North America to support nine engines and transmissions for 2011 models.

The company is also investing $34 million for launch and engineering costs.

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