Ford Will Up Its Output of Added Models in Ontario and 2 Other Hot Stocks to Watch
Ford Motor Co. (NYSE:F): Current price $17.65
Ford’s president of the Americas Joe Hinrichs announced in a statement that his company will spend $685 million to add the output of additional models at an Ontario vehicle-assembly facility, commenting that, “This investment is helping us find much needed capacity for global products.” The automaker did not say which models will be added at the plant in the Toronto suburb of Oakville.
In 2012, Ford pledged to create some 600 jobs in Canada, which would include a partial third shift at Oakville in negotiations with the Canadian Auto Workers union. Presently, the plant produces models such as the Ford Edge and Lincoln MKT crossover vehicles, and Ford Flex wagon, says the company’s website.