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Ford Says It Will Keep U.S. Plants Open, But Stays Mum on Restructuring Plan.
Knight Ridder/Tribune Business News, January, 2002
By Rick Popely, Chicago Tribune Knight Ridder/Tribune Business News
Jan. 8--DETROIT--Ford Motor Co. will not close any U.S. plants before its current contract with the United Auto Workers expires in September 2003, Ford President Nick Scheele said Monday.
"We clearly have signed a contract not to close plants, so we are not going to do that," Scheele, also chief operating officer, told reporters at the Detroit Auto Show.
Ford, which will lose money in 2001 for the first time in nine years, plans to announce a huge restructuring plan this week. Wall Street analysts have said Ford needs to close five or more U.S. plants and fire thousands of workers to return to profitability quickly.
Amid rumors that the restructuring plan will...
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