DEARBORN, Mich. (Associated Press)
Ford Motor Co.'s (F, News) top executive for auto parts purchasing said Wednesday the number of the automaker's suppliers that are under distress, bankruptcy protection or under observation has more than doubled in the last year.
Tony Brown, Ford's vice president for global purchasing, declined to give an exact number of distressed suppliers, but said in a briefing that more suppliers are in the category of being monitored as slumping auto sales force automakers to slow production and order fewer parts.
Brown said he had several teams of people looking at ways to aid distressed suppliers operationally, as Ford has limited funds to financially support the ailing companies.
"You could expect Ford to take the appropriate action given the situation and it could include providing financing," he said. "And it could include simply having an engineer go in and clean up their process."
Company Profile
- Ford Motors
- Ford Motor Company designs, develops, manufactures, and services cars and trucks worldwide. It operates in two sectors, Automotive and Financial Services. The Automotive sector sells vehicles under Ford, Mercury, Lincoln, and Volvo brand names. This sector markets cars, trucks, and parts through retail dealers in North America, and through distributors and dealers outside of North America. It also sells cars and trucks to dealers for sale to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments.
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