Ford set to close Belgian factory

Ford will close a factory employing 4,300 workers in the Belgian town of Genk by the end of 2014, shifting production to Valencia, Spain, as the US carmaker tries to stem European losses. The plant makes the Mondeo mid-size car and Galaxy and S-MAX minivans, but all three models are nearing the end of their current life cycles. Ford Europe chairman Stephen Odell said the move would help it return to profitable growth.