Ford considers alliance


Car manufacturer Ford is chewing over possible alliances with other automobile firms, according to the Wall Street Journal.

Ford chairman and chief executive Bill Ford called Carlos Ghosn, chief executive of Nissan and Renault, last month, the newspaper said, but had yet to hold formal talks with other carmakers about a tie up.

The story comes after Mr Ghosn reportedly held talks with General Motors about a three-way alliance, a move backed by GM's biggest shareholder, Kirk Kerkorian.

Mr Ghosn had said he will not talk to Ford until discussions with GM were concluded.

Mr Ford told BusinessWeek yesterday: "Naturally, when you look at the possible collaborations in our industry that are being talked about, we look at how those alliances might affect us. Let me assure you, we're not sitting on the sidelines waiting for things to happen.

"There are a lot of players out there gaming these things out, and we are, too. If we find someone with common interest, and it's good for all of us, we would look at that."

Shares in Ford rose 34 cents to close at $7.76 a share on the news.

To date, Ford has lost $1.4 billion in the first half of this year.

Ford will axe North American production by 21 per cent in the fourth quarter primarily because of slow sales in the F-Series pickup.

Ford and GM are due to send a preliminary report on a possible alliance to directors by mid-October.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure