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| Ford experiences big turnaround |
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| News - Business | |||
| Written by Ray Weikal | |||
| Thursday, 04 February 2010 01:00 | |||
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One of the Northland’s most important companies had a very good 2009. Ford Motor Co. reported excellent financial results during a conference call with executives Jan. 28. The company posted a $2.7 billion profit for the year. This marks a big turnaround the automaker, which was slammed by the economic recession along with other DaimlerChrysler AG and General Motors Corp. The Ford F-Series, built at the company’s Northland plant in Claycomo, was the top selling truck line in the U.S. for the 33rd straight year. In addition, the Ford Escape — which is also built in the Northland — was the top selling small sport utility vehicle in the nation. Company executives said the 2009 results will lead to profit sharing for their roughly 45,000 hourly employees in the U.S. The average profit sharing payout will be about $450 per employee. That would mean approximately $1.7 million for the 3,700 people who work at the Northland site. Ford’s Claycomo assembly plant is among the company’s most efficient sites, according to Clay County Economic Development Council Executive Director Jim Hampton. Hampton credited Ford’s Northland employee’s for the plant’s success. “They still have that pool of talent there, which I think is a tremendous strategic challenge,” Hampton said. The health of Claycomo site has a big economic impact on the entire state, Hampton added. Every county in Missouri has a company that is a direct or secondary supplier for the automotive industry. “This is a big issue,” Hampton said. “It affects every piece of the state.” Ford’s success in the face of an ongoing recession is a good sign that the company will see more profits in the coming year, President and Chief Executive Officer Alan Mulally said. “While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford and the strongest proof yet that our One Ford plan is working and that we are forging a path toward profitable growth by working together as one team, leveraging our global scale,” Mulally said. Ford built some credibility among consumers by refusing to take any of the Federal bailout money offered the last two years to the big three domestic automakers. The company tightened expenses by shutting down unprofitable lines and dealerships. It also tapped into growing demand for green vehicles with models like the Escape Hybrid. While domestic sales were positive, the international market provided a big boost to Ford’s 2009 numbers. The company’s sales in China were up 45 percent from 2008. “In every part of the world, we are providing customers with great products, building a stronger business and contributing to a better world,” Mulally said. “Our progress has help us gain market share in most of our major markets.”
Staff writer Ray Weikal can be reached at 389-6637 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
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