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Cash reserves sufficient, Ford Motor says

04.06.2008 10:00 Shopping - Source: toledoblade.com

OAKVILLE, Ontario — Ford Motor Co. has plenty of cash to fund the company’s restructuring plan, now expected to include white-collar job cuts and a shift in production to more fuel-efficient cars, a senior executive said yesterday.

“We have ample liquidity to help fund our turnaround,” Mark Fields, Ford’s president for the Americas, said on the sidelines of an event to mark the production launch of the Flex crossover wagon at the company’s Oakville, Ontario, plant.

Mr. Fields made the remarks in response to a question on whether the $23 billion borrowing program Ford undertook in 2006 would be sufficient for its revised restructuring plan.

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