Ford To 'create Or Retain' 130 Jobs As Part Of $1.2 Billion Investment In Michigan Plants

By Tomi Kilgore Markets MarketWatch Pulse

The "big announcement" from Ford Motor Co. that President Donald Trump tweeted about earlier Tuesday, highlighting "JOBS! JOBS! JOBS!," was Ford saying it would "create or retain" 130 jobs as it expands capacity at the Romeo Engine Plant in Michigan. That was part of Ford's plan to invest a total of $1.2 billion in three Michigan plants: $850 million to retool Michigan Assembly Plant to build Ford Ranger vehicles, starting at the end of 2018, and to build Ford Bronco vehicles in 2020; $150 million to expand capacity for engine components for several vehicles at Romeo Engine Plant; and $200 million to support a previously announced data center it was building. In January, Ford said it was spending $700 million and adding 700 new jobs at its Flat Rock Assembly Plant. Ford's announcement Tuesday come less than a week after the automaker provided a first-quarter profit outlook that was below expectations, and less than two weeks after announcing a $642 million investment in a German plant that makes Ford Focus vehicles. The stock rose 0.8% in morning trade, after tumbling 9.8% over the previous seven sessions. The stock has now lost 4.9% year to date, while the S&P 500 has gained 4.6%.

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