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Ford Begins Plant Demolition

Ford Motor Company (NYSE:F) has started the demolition of its Wixom assembly plant.

Ford Begins Plant Demolition

The US automaker Ford Motor Company (NYSE:F) confirmed that it has begun the demolition of part of its 4-million square feet Wixom assembly plant.

The company closed the plant in 2007 had been trying to sell the facility. The company still intends to sell majority of the facility and is in talks with multiple companies about a possible sale.

The company received $20 million in state tax credits which will be used to demolish around 1 million square feet of the plant.

A Ford Motor Company (NYSE:F) spokeswoman Becky Sanch said, “Our goal is to sell the entire assembly plant site”.

Ford Motor Company (NYSE:F) shares are currently standing at 10.11.

Ford Begins Plant Demolition
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Last Price: 10.11
52 Week Low / High: 8.82 / 13.05
50 Day Moving Average: 9.66
6 Month Price Change %: -20.5%
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