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Posted: Friday, October 03, 2008, 4:34PM
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Ford procurement head offers dire warning to suppliers
Suppliers in the automotive industry face an uncertain future as the economic slowdown continues to take it toll, Ford’s global procurement chief has warned.
Tony Brown said that the tight credit conditions, combined with the downturn in production, would see large numbers of auto parts suppliers in the US go to the wall.
“We have all these things converging, volumes, credit, global economies slowing, so there is no room to manoeuvre,” Brown said. “Volume is not there, credit is not there.
“We are seeing the impact in our industry relative to our suppliers and their attempts to finance their debt.”
Despite his fears, Brown maintained that Ford itself was in good shape to weather the current financial storm.
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