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Cutting - USA - Ford may close more factories to cut expenses
Detroit,Mich,USA -Detroit Free Press/Bloomberg, by Jeff Green and Alan Katz -Sept 15, 2005:-( Ford Motor Co., the world's No. 3 automaker, might close more plants after a 2002 plan to cut costs failed to end losses in North America, Ford President James Padilla said. "We will align our capacity with demand and see how that falls," said. The automaker already closed the Jaguar Browns Lane plant in Britain and soon will close a van plant in Lorain, Ohio, he said... Plant closings could be part of a further restructuring that CEO Bill Ford plans to carry out in the fourth quarter. Bill Ford in August promised new initiatives that will go beyond cost cutting to combat dwindling profits and shrinking U.S. market share...
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