- Title: USA: FORD MOTOR COMPANY CELEBRATES THEIR 100TH ANNIVERSARY
- Date: 12th June 2003
- Summary: (W1) DEARBORN, MICHIGAN (JUNE 12, 2003) (REUTERS) BILL FORD Jr., CHAIRMAN AND CEO, SITTING AT PODIUM SCU (SOUNDBITE) (English) BILL FORD Jr., CHAIRMAN AND CEO SAYING: "Failure is not an option, we said that before. We've got the most dedicated people in the business. They love this company and that separates us from other companies. What does that mean to us in practical terms? It means that our people will do anything to make this company work." FORD GT SHOWCAR OPENING SHOW BILL FORD Jr LEAVING SHOW IN CAR Initials Script is copyright Reuters Limited. All rights reserved
- Embargoed: 27th June 2003 13:00
- Keywords:
- Location: FORD HEADQUARTERS, DEARBORN, MICHIGAN
- Country: USA
- Topics: Industry
- Reuters ID: LVA4IR9TI43KD1GP1J7DNXLMZS00
- Story Text: Ford Motor Company, the world's second biggest automaker, is marking its 100th anniversary this week, by celebrating its past, present and future.
Despite heavy rain, the Ford Motor Company was celebrating on Thursday (June 12). The world's No. 2 automaker kicked off a five-day event honouring its 100th Anniversary with a rolling caravan of vintage Model T's that arrived at company headquarters in Dearborn, Michigan after a 2-½ week trip from California. Don Cranford, one of the drivers, said, "The car did real well except we broke an axle on the backside and we had to rebuild that and we did have a little bang. But other than that we made it OK."
More than 3,200 classics are on display over the weekend, including such icons as the 1929 Model A, the 1956 Ford Thunderbird and the original "Pony Car", the "1964½" Ford Mustang. Ford officials said the celebration is an opportunity for the company's past to meet it's future. The Centennial though comes at a difficult time for Ford.
Boardroom turmoil, inefficiency and a Firestone tire recall linked to rollover crashes in some of its sport utility vehicles have led to losses of $6.4 billion dollars over the last two years.
Still the company is optimistic. This past week it began rolling out its latest version of the highly profitable F-150 truck series. Ford is also rebuilding the Rouge Manufacturing Plant - the same one where Henry Ford revolutionized the industry for the 20th Century with his production line for automobile assembly. In addition, Ford is scheduled to begin production on a new Mustang in 2004 and the mood in the company is good.
"Failure is not an option, we said that before. We've got the most dedicated people in the business. They love this company and that separates us from other companies. What does that mean to us in practical terms? It means that our people will do anything to make this company work." said Ford's Chairman and Chief Executive, Bill Ford Jr.
As for the immediate future, investors will get a better idea on Monday (June 16) when Ford holds its annual shareholders meeting. - Copyright Holder: REUTERS
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