Ford To Resume Production Of F-Series Trucks

BUSINESS
               Ford resuming F-150 Super Duty production on Monday        Production is resuming again on May 21 ahead of schedule

The No. 2 US automaker also said F-150 production would resume at its Kansas City, Missouri, plant on Monday, as would assembly of its Super Duty F-Series pickup trucks at a Ford plant in Louisville, Kentucky.

This allowed Ford and Meridian to safely retrieve and relocate tools to more quickly resume part production and work to minimize the financial impact of the stalled plants.

Ford Motor Co. plans to restart production of the F-150 on Friday after the two plants that build the trucks were idled for almost two weeks following a parts shortage due to a fire at a supplier plant in MI. Now officials say because of quick action after that early fire, they can now restart production.

"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.

Returning to full production is likely to take some time as the automaker has scrambled to re-establish manufacturing of critical components from a supplier.

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Production will begin later this year, with a series premiere slated for 2019. Sean Pertwee now plays Alfred Pennyworth on Fox's Gotham .

The production hiccup will cost Ford 12 cents to 14 cents per share in the second quarter.

Within 24 hours it began extracting tooling, including a 87,000-pound die.

Production was halted due to a shortage of parts caused by a May 2 fire at Meridian Magnesium Products in Eaton Rapids.

Ford expects lost production of the F-Series will hurt Q2 EPS by $0.12-$0.14 but reaffirms its previous FY 2018 adjusted EPS guidance range of $1.45-$1.70.

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