01-09-2007, 01:48 PM
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#1 (permalink)
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7.0 Liter LS7 V8
Join Date: Jun 2006
Posts: 6,148
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Ford to invest $866 million in 6 Michigan plants
Quote:
Ford Motor Co. said on Tuesday it will invest $866 million to upgrade six plants in Michigan to help it build its small-car lineup and produce fuel-efficient power trains.
The investment comes as Ford moves to close 16 facilities in North America and cut nearly 45,000 jobs to return the region to profits. Ford officials, speaking on the sidelines of the North American International Auto Show here, said the plants benefiting from the investment include a pickup truck assembly plant in Dearborn and a Focus small-car plant in Wayne.
Ford last month raised about $23 billion to fund its restructuring and automotive operations. The company has said it expects a $17 billion cash drain during the next three years. Ford lost $7 billion in the first nine months of 2006 and expects further losses in the just-completed quarter and beyong. The automaker does not expect to make money in its North American auto unit until 2009.
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http://today.reuters.com/news/articl...yID=nN09322830 |
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