Photographer: Jeff Kowalsky/Bloomberg
Ford Expects F-150 Truck Shutdown to Last at Least Another WeekBy
Ford Motor Co. expects to lose production of F-150 trucks for at least another week due to a shortage of parts from a supplier plant that sustained an explosion and fire, according to a person familiar with the matter.
The automaker included a return-to-work date of May 18 in layoff notices sent to factory workers in Michigan and Missouri, said the person, who asked not to be identified because the information isn’t public. It’s unclear if production will resume on that date.
The fire at a Meridian Magnesium Products plant in Eaton Rapids, Michigan, has disrupted output of models for automakers including Ford, Mercedes-Benz maker Daimler AG, General Motors Co. and Fiat Chrysler Automobiles NV. The supplier is owned by China’s Wanfeng Auto Holding Group.
F-Series pickups generate most of Ford’s profit, with Morgan Stanley recently assigning a higher valuation to the franchise than the entire company. The trucks are the top-selling vehicle line in America and haul in about $40 billion in annual revenue.