Staff at the Ford plant in Bridgend are celebrating the news that they've landed a massive £24m investment. Half of that will be coming from the Welsh Government. The money will be used to start production of a new engine.
Ford, which employs 2,300 workers at its Bridgend plant says the new engine will come off the production line in 2014.
Bridgend already produces 2,668 four-cylinder engines each day and staff numbers says Ford are at their highest in the plant's 33-year history.
The £24m worth of investment announced today includes a grant of £12m from the Welsh Government.
– Mark Ovenden, managing director, Ford of Britain
The Welsh Government has greatly assisted in maximising the full potential of Ford’s own investment in Bridgend and we are pleased to meet today with the Welsh First Minister and the Business Minister to recognise this successful partnership.
Today's announcement by Ford that it will build a new engine at it's Bridgend plant in 2014 is being supported by the Welsh Government which is contributing £12m in funding.
– Edwina Hart, Minister for Economy
The Welsh Government has worked closely with Ford to secure this investment and is delighted to confirm a support package of £12 million towards this exciting programme.
This will help safeguard and create high quality production and engineering jobs in Wales.
Ford says the multi-million pound investment package at its Ford engine plant in Bridgend will help safeguard jobs.
The £24m will be spent on producing a new engine.
Ford says the 1.5-litre EcoBoost petrol engine uses technology that delivers the power of a larger engine with smaller unit fuel consumption. Production will start in 2014.
It will be built alongside the 1.6-litre EcoBoost engine, which was introduced in 2011.