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Ford suspends F-series production

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Ford suspends F-series production

Ford Motor Co. will stop the production of its popular and profitable F-150 pickup truck as critical parts supplied by Meridian Lightweight Technologies are about to run out, CNBC reported May 9.

An explosion and fire at Meridian's facility in Easton Rapids, Mich., on May 2 completely shut down the production of components used in the instrument panel of the F-150.

Nearly 4,000 workers at Ford's Dearborn truck plant will be temporarily laid off, joining about 3,600 workers at the company's truck plant in Kansas City who were also told to stay home.

The components shortage has also forced Ford to halt production of the F-Series Super Duty pickup at its production plant in Louisville, Ky.

Ford said near-term financial results will be adversely impacted by the loss of F-Series production, but the company reaffirmed its full-year earnings guidance of $1.45 to $1.70 a share, according to the CNBC report.

In April, Ford sold 73,104 units of F-Series pickups, with a majority of those being the F-150, according to company sales reports.