Jun 30, 2011
Ford Motor Co (NYSE:F) marked the completion this week of its $500 million investment in its South African operations.
The company has spent the last two years expanding its Struandale engine plant in Port Elizabeth, increasing its capacity to 75,000 diesels and 220,000 engine component kits, and its Silverton Assembly Plant in Pretoria to produce the all-new ford Ranger for export.
The Ranger will be exported from South Africa to 148 markets around the world. To meet that demand, capacity at the Silverton Plant was increased to 110,000 of the pickups annually.
Jeff Nemeth, president of Ford Motor Co. of Southern Africa, said in an interview Tuesday with the Detroit News that "somewhere down the pike, Africa will hit that growth curve as well,"
Ford currently has about 10% market share in South Africa, behind Toyota, Volkswagen, and General Motors, Nemeth said. The company employs 2,900 workers in the country and has 127 dealers.
Shares of Ford Motor are trading up 3.84% at $13.94.
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