Ford conducts reviews of overseas plants - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
LinkBack Thread Tools Display Modes
post #1 of 1 (permalink) Old 02-14-03, 06:59 AM Thread Starter
Registered User
Stacy94PGT's Avatar
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
Ford conducts reviews of overseas plants

Financial Times (London)
By Jeremy Grant in Chicago/Additional reporting by James Mackintosh in London
Published: February 13 2003

Ford Motor Company is conducting a sweeping review of its international operations outside North America, including a re-assessment of its network of manufacturing facilities, in an effort to improve profitability.

The development is another sign of the more aggressive approach by David Thursfield, drafted in to the carmaker’s US headquarters from Ford Europe as head of global operations, towards restoring Ford to profitability by mid-decade.

Elena Ford, director of business under Mr Thursfield, said: "There’s a very broad look at what exists in each place and the best way to drive the business properly and profitably,"

The world’s second-largest carmaker is in its second year of a tough restructuring after posting a $5.45bn net loss for 2001. Ford has 111 manufacturing plants worldwide, 68 outside North America.

Excluding charges, Ford made 8 cents a share in the fourth quarter of 2002 and has set an ambitious target of 70 cents a share by year-end, partly through accelerated cost-cutting.

Ms Ford, a cousin of Bill Ford, chief executive, said the review, which started a few months go, was still in its preliminary stages. It was "for business reasons more than cost cutting reasons, to drive the business forward in the competitive environment that exists today".

Ford would know "by the spring" what actions would be needed as a result of the review. "We’re just figuring out what’s there [in international operations] and what’s not there.

We’ve laid out charts showing how many plants we have in Asia-Pacific, Europe, and South America and what we are building in those plants, what everybody’s product development plans look like - are we synchronized, are we not synchronised?" she said.

The review includes Premier Automotive Group, Ford’s loss-making portfolio of luxury brands such as Volvo, Land Rover and Jaguar. Mr Thursfield assumed operational responsibility for PAG in November.

In one sign of how the review may already be affecting some parts of Ford, the carmaker yesterday unveiled a new management structure at Jaguar with the appointment of Bob Dover, as chief executive, replacing Mike Beasley, who will retire from the company. Ford said the rapid growth of PAG will slow as Jaguar, Land-Rover, Aston Martin and Volvo shift their focus to cost-cutting. PAG, which is based in London, said it would attempt to share more components and purchasing within the group to reduce costs.

Ford this week also sought to end speculation about the future of its ailing Mercury brand by announcing plans to launch four new products over the next three years.

The first two vehicles, a Monterey minivan and a Montego passenger car, were unveiled at the Chicago Auto Show on Wednesday. Typically for many Mercury vehicles, they are based on similar vehicles sold under Ford’s "Blue Oval" product range.

They will be followed by a new small sport utility vehicle in 2005 and another mid-sized passenger car in 2006.

Although Ford claims that the Mercury brand is profitable, its share of the US vehicle market fell to 1.6 per cent last year from 1.8 per cent in 2001. That, combined with a lack of investment in new products had led to complaints from the carmaker’s network of 2,600 Lincoln-Mercury dealers, as well as persistent speculation that Ford might abandon the brand.

Jim Padilla, president North America, said: "We didn’t do a great job with Mercury over the years but we’re leading a product renaissance."

My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....
Stacy94PGT is offline  
Sponsored Links

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ford family celebrates 100 years of cars Stacy94PGT Ford Worldwide News 0 06-10-03 05:46 AM
FORD TOUGH: The pressure's on for Bill Ford Jr. to finish first Stacy94PGT Ford Worldwide News 0 06-10-03 04:52 AM
'Henry had the dream' Stacy94PGT Ford Worldwide News 0 03-28-03 05:58 AM
A CENTURY OF VISION: Fords built city, changed the world Stacy94PGT Ford Worldwide News 0 03-12-03 07:17 AM
Ford Product-Led Transformation: 2003 RPO83 Trans | Driveline 0 07-22-02 06:48 AM

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome