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Summary Ford Takes $200 Millions Hit From Canceling Mexico Plant 
Category General 

" ... Ford Motor Co (F.N) on Thursday reported a fourth-quarter loss, citing an accounting change to pensions and costs for abandoning a factory in Mexico, which President Donald Trump had attacked on the road the White House.

Ford also reaffirmed its forecast that 2017 profits would be lower, which contrasted with more upbeat forecasts from Detroit rivals General Motors Co (GM.N) and the U.S. operations of Fiat Chrysler Automobiles NV (FCHA.MI)(FCAU.N).

Ford shares were down 3.2 percent at $12.38.

Ford's fourth-quarter results took a $200-million hit from costs related to canceling a $1.6-billion small car plant in Mexico that had become a target for Trump during his campaign last year.

Date 1/26/2017 
Added by SMPS Editor 
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