Ford to Resume F-150, Super Duty Vehicle Production Within Days
May 16 2018 - 5:50PM
Dow Jones News
By Aisha Al-Muslim
Ford Motor Co. is resuming production of F-150 and Super Duty
trucks ahead of schedule at three assembly plants after a fire
earlier this month at one of its supplier's facilities created a
parts shortage.
The Dearborn, Mich.-based auto maker said Wednesday it is
restarting production of the F-150 pickup at a Dearborn plant on
Friday, after it went offline last week Wednesday. By Monday, the
company expects to restart production on Super Duty trucks at a
plant in Louisville, Ky., and F-150s at its Kansas City, Mo.,
assembly plant.
"While the situation remains extremely dynamic, our teams are
focused on returning our plants to full production as fast as
possible," said Joe Hinrichs, Ford president of global operations,
in prepared remarks. "The ramp-up time to full production is
improving every day."
Ford expects the production stoppage to dent second-quarter
per-share earnings by 12 cents to 14 cents. However, the company
again backed its guidance of annual adjusted earnings between $1.45
a share and $1.70 a share.
Shares in Ford rose 0.4% in after-hours trading.
Last week, Ford suspended F-150 production and said it was
working to offset U.S. production losses as the shortage of
die-cast components had affected its manufacturing operations.
Meridian Lightweight Technologies, owned by China's Wanfeng Auto
Holding Group, operates the Eaton Rapids, Mich., plant where the
May 2 blaze occurred. Ford accounts for less than one-third of the
volume of output from the affected Meridian plant, Ford had said
last week.
The F-150 is Ford's best-selling vehicle and generates the bulk
of its global profit.
The disruption was initially expected to have an "adverse
impact" on company earnings, but will have less of an effect than
initially estimated, executives said during a conference call
Wednesday afternoon.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
May 16, 2018 17:35 ET (21:35 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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