Parts suppliers in distress, Ford says
DEARBORN, Mich. -
Brown said he has several teams looking at ways to aid distressed suppliers operationally, as Ford has limited funds to financially support the ailing companies.
The automaker has pledged to provide at least $125 million in debtor-in-possession financing to a former subsidiary,
Ford said it is accelerating its plans to consolidate the number of suppliers it uses. The company said 850, or 48 percent, will be eligible for future work at the end of the year, down from the 1,683 eligible at the end of 2008.
“We don’t need that capacity,’’ he said. “We need a stronger, healthier, profitable supply base.’’