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Friday, October 24, 2014

Ford rejects pitch for proposed investment in Ontario -union, (NYSE: F)

Ford Motor Co has rejected a proposal to invest in engine plants in Windsor, Ontario, and decided to put the money in Mexico as the automaker originally planned, the head of Canada's main auto workers' union said on Friday. Unifor President Jerry Dias told Reuters a "last-minute" effort was made to divert program to Canada, but failed.Ford said in a statement to Reuters that it could not disclose its Canadian plans."For competitive reasons, we cannot discuss future manufacturing or product plans," the statement said.

Ford Motor Company (Ford) is a producer of automobiles. Shares of F fell by 4.27% or $-0.615/share to $13.78. In the past year, the shares have traded as low as $13.26 and as high as $18.12. On average, 29504200 shares of F exchange hands on a given day and today's volume is recorded at 36937520.