DEARBORN, Mich. -Ford Motor Co. will restart production of the F-150 pickup at a Dearborn factory May 18 after more than a week of downtime resulting from a fire at a key supplier plant in MI. Manufacturing of the Super Duty truck is expected to resume at a Kentucky plant by May 21.
Ultimately, Ford said it expects to lose $0.12-$0.14 per share in the second quarter this year due to the truck production shutdown, but reaffirmed earnings-per-share guidance for 2018 from $1.45-$1.70.
Ford shares closed up 1.6 percent at $11.40. "Thanks to their heroic efforts, we are resuming production of some of our most important vehicles ahead of our original targets".
According to a release, work started immediately in the aftermath of the May 2 fire. This plane is one of the largest in the world, usually used to transport things like trains and construction machinery, so it was able to quickly carry the large magnesium press overseas.
Teams from Ford and several suppliers scrambled to recover 19 dies from the damaged facility. The whole process typically takes 10 days, Thai-Tang said.
"While the situation remains extremely dynamic, our teams are focused on returning our plants to full production as fast as possible", said the automaker's global operations chief Joe Hinrichs.
Meridian now is producing parts for the F-150 at two locations-Eaton Rapids, Mich., and Nottingham. Production of bolsters for Super Duty is also restarting at Eaton Rapids. Meridian is Ford's only supplier of the magnesium structure for truck radiators in the United States.
To get back on track, Ford recovered 19 dies - or tools used to shape metal into various parts - from the "badly damaged" MI facility, Ford said.
The workers will now have to make up for lost time.
The company again emphasised stocks of F-Series pickups and other vehicles remain strong and "customers won't have a problem finding the model they want". USA sales of the F series are up 4.1 percent this year through April. Now officials say because of quick action after that early fire, they can now restart production.