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Ford Motor Co (NYSE: F) signed an agreement with the UGT Union in Spain today, according to the Associated Press. The agreement will allow Ford to build three new small- and mid-sized cars in its Almussafes plant in Spain, with an annual production target of 350,000 cars. The union has agreed to keep labor costs low in effort to keep the plant competitive with its European rivals.

The announcement comes at a time when automakers are doing everything they can to expand their global operations outside of the United States.

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Ford (F) expands Detroit's foreign footprint originally appeared on BloggingStocks on Wed, 29 Aug 2007 17:49:00 EST. Please see our terms for use of feeds.

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