Ford Says Thai Floods Prevented All Units From Making ’11 Profit
January 11, 2012, 9:46 AM ESTBy Keith Naughton
Jan. 10 (Bloomberg) -- Ford Motor Co. today said floods in Thailand prevented it from achieving its goal to be profitable in all its global business units in 2011.
“The impact of the Thai floods is a bit bigger than we anticipated,” Ford Chief Financial Officer Lewis Booth told analysts in a presentation at the Detroit Auto Show. “We guided in the third quarter that all business units would be profitable for the full year. We now think that’s no longer possible because of the impact of the Thai floods.”
Ford was not profitable in its Asia-Pacific and Africa region in 2011, Booth said.
To contact the reporter on this story: Keith Naughton in Detroit at knaughton3@bloomberg.net
To contact the editor responsible for this story: Bill Koenig at wkoenig@bloomberg.net
