Ford Motor Company closed its Norfolk, Virginia, truck assembly plant nearly four years ago, but the automaker has finally found a buyer for the empty facility. Jacoby Development, an Atlanta-based land developer, acquired the plant facility for an undisclosed amount.
Jacoby says that it will immediately sell a portion of the plant to Belgium-based Katoen Natie, or KTN, a global logistics supplier, which plans to redevelop around 100 acres for a new warehousing and distribution operation. KTN is investing an additional $10.5 million to refurbish Ford’s 662,000 square foot former body shop.
The Norfolk plant was one of Ford’s oldest when the automaker closed it in 2007. Opened in 1925, the plant built a variety of Ford products over the years. The last product Ford built at the plant was the F-150 pickup. Despite a $375 million investment into the facility in 2002, Ford made the decision to close the facility.
More than 2,600 Ford employees worked at the assembly plant at its height. By contrast, KTN says it will hire around 250 employees for its operations in Norfolk.
No comments:
Post a Comment