Ford Motor Company (F) announced that it will upgrade its Ontario plant in an effort to keep the facility current and efficient.
Ford is the best-selling automaker in Canada, making the planned $685 million overhaul especially crucial for its Ontario plant. The move comes as CEO Alan Mulally has been strategically decreasing the number of locations that produce vehicles, while increasing the efficiency and capacity of those that remain.
Mulally noted that they did not expect any major hiccups in supply from the Ontario plant and that the project figures to be completed in the latter half of 2014.
Ford shares were up 3 cents, or 0.17%, at Thursday’s close. The stock is up more than 36% this year.The Bottom Line
Shares of Ford Motor Company (F) are currently yielding 2.27% based on Thursday’s closing price of $17.66.
Ford Motor Company (F) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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