Amid Cuts Elsewhere, Ford Will Invest $1 Billion to Build More Rangers in South Africa
Ford Motor Company (NYSE: F) said today that it will spend just over $1 billion to expand and upgrade a factory in South Africa, even as it scales back its operations in other parts of the world.
Ford's assembly plant in Silverton, near the South African capital of Pretoria, currently builds the Ranger pickup and a Ranger-based SUV called the Everest. The trucks built at Silverton, roughly 168,000 per year, are sold in South Africa and exported to about 100 markets around the world (but not the United States).
Ford Rangers built in South Africa are exported to markets around the world. Ford will spend $1 billion to expand and modernize its South African factory. Image source: Ford.
Source Fool.com
