Ford Upgrading Ohio Plant; Plans To Add 300 Jobs

0
Ford Upgrading Ohio Plant; Plans To Add 300 Jobs
EME / Pixabay

Ford continues to lead the way among U.S. automakers in terms of domestic expansion. Ford Motor Company (NYSE:F) announced today that the company was adding at least 300 new jobs to its engine manufacturing plant in Lima, Ohio following a major upgrade at the facility. The upgrade to the plant provides the necessary infrastructure to produce the new 2.7-liter EcoBoost turbocharged engine for the next-generation Ford F-150 due out in 2015.

Statement from Ford

The company released a statement today announcing the expansion and new jobs at the Lima plant. “Our truck customers have spoken, and we continue to meet their evolving needs by providing another V-6 option,” said Joe Hinrichs, Ford Motor Company (NYSE:F) president of The Americas. “The hardworking team at Lima Engine is thrilled to begin building one of the most technologically advanced engines ever designed for America’s No. 1 truck.”

Option Trading and the Future of Option Alpha with Option Alpha’s Kirk Du Plessis

Arena Investors Chilton Capital Management Schonfeld Strategic Advisors Robert Atchinson Phillip Gross favorite hedge fundsValueWalk's Raul Panganiban interviews Kirk Du Plessis, Founder and CEO of Option Alpha, and discuss Option Alpha and his general approach to investing. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with Option Alpha's Kirk Du Plessis


EcoBoost engine to be popular option

Ford Motor Company (NYSE:F) expects the innovative EcoBoost engine to be a big seller. The highly efficient engine offers excellent gas mileage while still providing strong performance. The new EcoBoost engine is a twin-turbo 2.7-liter V-6 that is computer-controlled to turn off when the vehicle is not moving in order to save gas.

Ford is anticipating strong sales for its bleeding-edge engine, especially given demand for the first-generation EcoBoost powertrain. More than 57% of Ford Motor Company (NYSE:F) customers ordering a new F-150 pick up have selected either a 3.7-liter V-6 or a 3.5-liter V-6 EcoBoost.

Investors are greeting the news positively, with Ford Motor Company (NYSE:F) shares trading up 27 cents at $15.52 as of 12:08 PM ET today.

No posts to display