Meridian fire causes parts shortages in US

General Motors shut down production of its full-size van in Wentzville Missouri due to the Meridian fire

The Detroit Free Press is reporting that Ford is saying the fire at Meridian Magnesium Products of America has greatly impacted its production of the F-150 pickup truck.

In the statement announcing the shutdown of F-150 production, the automaker does not note when production at either plant would resume. Morgan Stanley recently estimated that the F-150 alone may be worth more than the whole company. Those are the only plants that make the truck.

"Kansas City Truck who we send our engines to have components that they received from Meridian who caught fire and what's happened is we have Thursday and Friday down, as of right now", said Unifor 200 president John D'Angelo.

The F-Series pickups have always been the top-selling vehicles in the U.S. - and for Ford, they're a license to print money. Dearborn is the primary assembly plant for F-150 production and employs around 4,000 workers.

Reports from around the industry suggest that earlier this week, Ford had about 84 days' worth of F-Series inventory on hand.

General Motors, Fiat Chrysler, BMW and Mercedes-Benz also said output has been disrupted. GM has halted production of the Chevrolet Express and GMC Savana full-size vans at its Wentzville, Missouri, factory, but continues to build Chevy Colorado and GMC Canyon pickups there. Ford was able to recover the 19 tool sets it needs to restart production of components from fire scene, but it will take time to restart the supply chain.

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Ford Motor suspends F-150 production, and this news came in air on Wednesday evening.

The supplier's fire is affecting other automakers. A Ford spokeswoman said on Wednesday the automaker is working closely with the supplier to get production restarted, but declined to provide details.

Ford said its annual guidance of adjusted EPS between $1.45 and $1.75 would still hold.

Insiders suggest the assembly lines could remain idle for several weeks as Ford tries to source the missing parts from elsewhere.

"We are now following our safety protocols and working alongside state agencies and utilities to ensure that resumption of operations will be done in safe manner".

Rising interest rates could also bring people into showrooms sooner rather than later, Krebs said.

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