Ford investing $1.2B in 3 Michigan plants, adding 130 jobs
The automaker's investment includes plans to add 130 new jobs at its engine plant in the village of Romeo, where it will spend $150 million to expand capacity so it can make engine components for the Ranger and Bronco.
(F) that President Donald Trump tweeted about earlier Tuesday, highlighting "JOBS!"
Ford said it will put the money toward upgrading three MI facilities and create 130 jobs.
Ford said last week it expects a full-year pretax profit of $9 billion, down from $10.4 billion in 2016, as it invests in autonomous cars and new mobility services.
Ford announced Tuesday that it would invest $1.2 billion in three MI plants, part of a deal with its workers' union struck in 2015.
A [?] $200 million investment for an advanced data center in MI supports Ford's expansion to an auto and mobility company and expected dramatic increase in data storage needs. "JOBS! JOBS!" Trump tweeted early Tuesday.
Congresswoman Debbie Dingell (D-12th District) said Ford's continued investment in the area is a positive across the board.
The announcement brings Ford's total to $1.9 billion in new investments in MI this year.
The automaker expects earnings per share of 30 cents to 35 cents in the first quarter, down from the same period past year.
A $700 million investment at the Michigan Assembly Plant was part of the 2015 Ford-United Auto Workers contract.
But the announcement is believed to be connected in part to its recent decision to revive the Ford Bronco sport-utility vehicle and Ford Ranger mid-size pickup truck.
Ford said Tuesday it is investing $1.2 billion in three MI facilities.
In January, the U.S. auto giant said it would cancel a $1.6bn plant it had planned to build in Mexico. It also dropped plans for a $1.3 billion small auto assembly plant in Mexico - but it's shifting those cars to another plant in Mexico, not bringing them back to the United States. The plant used to operate on three shifts, but it cut a shift and 673 factory workers in 2015 because of slumping sales of small cars.
"So far we have announced more than Dollars 4.7 billion of investment", she said, but the data center was not included in the contract as it does not included any new jobs.
In addition, Ford has also designated $200 million for an advanced data center, the release noted.
It is the second of two new data centers Ford is building in MI.
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This is the Samsung Galaxy S8, launching on March 29
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