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F > SEC Filings for F > Form 8-K on 25-Oct-2012All Recent SEC Filings

Show all filings for FORD MOTOR CO

Form 8-K for FORD MOTOR CO


25-Oct-2012

Costs Associated with Exit or Disposal Activities, Financial Statements and Exhibit


Item 2.05. Costs Associated with Exit and Disposal Activities.

On October 19, 2012, we committed to commence a transformation plan for our Ford Europe operations, which reflects what we believe to be the structural nature of the current industry overcapacity in Europe.
Our plan is designed to achieve profitable growth in our European operations through focus on new products, a strong brand, and increased cost efficiencies. This includes the planned closure of three European manufacturing facilities, resourcing of key products for a more efficient manufacturing footprint, significantly improved plant utilization, and workforce reductions.
The planned closures include two U.K. facilities in 2013 - our assembly plant in Southampton, and our stamping and tooling operations in Dagenham. We also plan to end production at our assembly plant in Genk, Belgium by the end of 2014, pending confirmation following completion of a consultation process with employee representatives. These three facilities combined currently employ approximately 5,700 hourly and salaried employees.
Although we expect to have employee separation costs and potentially other costs associated with the proposed restructuring, we cannot reasonably estimate a range at this time.



Item 9.01. Financial Statements and Exhibits.

EXHIBITS*

Designation Description Method of Filing

Exhibit 99 News release dated October 25, 2012 Filed with this Report

* Any reference in the attached exhibit(s) to our corporate website(s) and/or other social media sites or platforms, and the contents thereof, is provided for convenience only; such websites or platforms and the contents thereof are not incorporated by reference into this Report nor deemed filed with the Securities and Exchange Commission.


Safe Harbor/Risk Factors Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:
Decline in industry sales volume, particularly in the United States or Europe, due to financial crisis, recession, geopolitical events, or other factors;

Decline in market share or failure to achieve growth;

Lower-than-anticipated market acceptance of new or existing products;

Market shift away from sales of larger, more profitable vehicles beyond our current planning assumption, particularly in the United States;

An increase in fuel prices, continued volatility of fuel prices, or reduced availability of fuel;

Continued or increased price competition resulting from industry excess capacity, currency fluctuations, or other factors;

Fluctuations in foreign currency exchange rates, commodity prices, and interest rates;

Adverse effects on our operations resulting from economic, geopolitical, or other events;

Economic distress of suppliers that may require us to provide substantial financial support or take other measures to ensure supplies of components or materials and could increase our costs, affect our liquidity, or cause production constraints or disruptions;

Work stoppages at Ford or supplier facilities or other limitations on production (whether as a result of labor disputes, natural or man-made disasters, tight credit markets or other financial distress, information technology issues, production constraints or difficulties, or other factors);

Single-source supply of components or materials;

Labor or other constraints on our ability to maintain competitive cost structure;

Substantial pension and postretirement health care and life insurance liabilities impairing our liquidity or financial condition;

Worse-than-assumed economic and demographic experience for our postretirement benefit plans (e.g., discount rates or investment returns);

Restriction on use of tax attributes from tax law "ownership change;"

The discovery of defects in vehicles resulting in delays in new model launches, recall campaigns, reputational damage, or increased warranty costs;

Increased safety, emissions, fuel economy, or other regulations resulting in higher costs, cash expenditures, and/or sales restrictions;

Unusual or significant litigation, governmental investigations or adverse publicity arising out of alleged defects in our products, perceived environmental impacts, or otherwise;

A change in our requirements where we have long-term supply arrangements committing us to purchase minimum or fixed quantities of certain parts, or to pay a minimum amount to the seller ("take-or-pay" contracts);

Adverse effects on our results from a decrease in or cessation or clawback of government incentives related to investments;

Inherent limitations of internal controls impacting financial statements and safeguarding of assets;

Cybersecurity risks to operational systems, security systems, or infrastructure owned by us or a third-party vendor, or at a supplier facility;

Failure of financial institutions to fulfill commitments under committed credit facilities;

Inability of Ford Credit to access debt, securitization, or derivative markets around the world at competitive rates or in sufficient amounts, due to credit rating downgrades, market volatility, market disruption, regulatory requirements, or other factors;

Higher-than-expected credit losses, lower-than-anticipated residual values or higher-than-expected return volumes for leased vehicles;

Increased competition from banks or other financial institutions seeking to increase their share of financing Ford vehicles; and

New or increased credit, consumer, or data protection or other regulations resulting in higher costs and/or additional financing restrictions.

Ford cannot be certain that any expectation, forecast, or assumption made in preparing forward-looking statements will prove accurate, or that any projection will be realized. It is to be expected that there may be differences between projected and actual results. Ford's forward-looking statements speak only as of the date of initial issuance, and Ford does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise. For additional discussion of these risks, see "Item 1A . Risk Factors" of Ford's Annual Report on Form 10-K for the year ended December 31, 2011.


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