Ford Motor’s quarterly revenues will be impacted by shutdowns at three U.S. truck plants resulted due to a fire at a key parts supplier, the U.S. automaker stated on Wednesday, while confirming its full-year earnings estimate.
“We’re confident that any impacts will be short term,” stated Joe Hinrichs, president of Ford global operations.
Hinrichs and purchasing director Hau Thai Tang stated the automaker was working with the supplier, Chinese-owned Meridian Magnesium Products, to move production of the impacted parts to other providers until the fire-damaged plant in Eaton Rapids, Michigan, can be fixed and production resumed.
A Meridian plant in Strathroy, Ontario, is one of those sites that will temporarily create lightweight parts for the Ford F-150 and Super Duty pickups, in addition to the Expedition, Navigator, Explorer, Flex and MKT utility vehicles.
Meridian was not available for comment.
Ford has shut down it’s truck plants in Kansas City, Missouri, and Louisville, Kentucky. Expedition and Navigator remain in production in Louisville, Ford stated.
Ford shares closed down 1.9 percent at $11.06.
The May 2 fire is currently being investigated by local officials. It triggered smaller production disruptions to other vehicle producers, including General Motors, Fiat Chrysler Automobiles, Daimler and BMW, the companies stated on Wednesday.
