A fire at Meridian Magnesium Products in Eaton Rapids, Michigan caused ripple effects throughout the automotive industry and one of the hardest hit companies was Ford which had to temporarily cease production of the popular F-150.
"Inventories of Ford's best-selling F-Series pickups and other vehicles remain strong and customers won't have a problem finding the model they want", Ford says.
Ford announced Wednesday that production of the F-150 would resume Friday at its Dearborn, Mich. plant now that the Easton Rapids facility is back in operation.
Ford stopped making the big pickup trucks at KTP on May 5 following a fire at a supplier plant in MI. Reflecting the urgency to restart production, one 87,000-pound die was loaded into an Antonov An-124 cargo plane and shipped to another Meridian site in Nottingham, UK, in just 30 hours door-to-door.
FBN's Jeff Flock on Ford halting production of the F-150 truck.
Production of the F-150 halted following a fire at parts supplier Meridian Magnesium Products. This quick reaction time enabled the company to recover, fix and validate most of the dies that were at the Eaton Rapids facility.
Ford said it expected an adverse impact of 12 to 14 cents per share on second-quarter earnings, but affirmed its full-year guidance, saying it believed it could make up most of the lost production.