Ford Motor Co said on Thursday that it will spend $150 million to upgrade and expand its Buffalo, New York, stamping plant, which makes doors, hoods and other parts for several models including the Edge crossover and Focus compact car. The second-largest U.S. automaker will also add 350 jobs, increasing the size of the factory's workforce by 54 percent, and add a third shift in the plant's press room.The announcement comes days after Ford showcased a concept version of the new Edge, which Ford plans to sell in China and Europe, at the Los Angeles Auto Show.The new and upgraded equipment will increase the plant's ability to make hoods, doors and fenders. Ford is also adding more than 500 new dies, or devices used to cut and shape material, and a new blanketing line.The new jobs are a mixture of new hires as well as workers coming back from temporary leave and transferred from other plants, the company said.
Ford Motor Company (Ford) operates in the global automotive industry. Shares of F traded higher by 1.24% or $0.2099/share to $17.13. In the past year, the shares have traded as low as $10.96 and as high as $18.02. On average, 37080900 shares of F exchange hands on a given day and today's volume is recorded at 16674869.
Source
