Ford sees Asia region 2011 loss after Thai floods

Wednesday, 11 January 2012 23:34 - - {{hitsCtrl.values.hits}}

DETROIT (Reuters): Ford Motor Co will report a loss in the Asia Pacific region in 2011 because of the impact of last year’s floods in Thailand, the company said on Tuesday.

Ford Chief Financial Officer Lewis Booth told an analyst conference in Detroit that the company was affected by the floods in Thailand that for weeks closed a Ford-Mazda Motor Co joint-venture plant.

Booth made his comments to auto industry analysts at a conference on the sidelines of the Detroit auto show.

Ford Chief Executive Alan Mulally, speaking at the same conference, affirmed that Ford will show a better pretax operating profit in 2011 than it did in 2010.

Ford is in a joint venture in Thailand for its auto assembly plant with Mazda Motor Co. That plant was shut for several weeks due to the floods. Previously, Ford had said it would show a profit in its three global regions: Asia-Pacific, North and South America, and Europe.