Ford Faced $1.19 billion Pure Financial Losses.

The pure losses of Ford Motor Co. concern in the first quarter of 2007 amounted $1.19 billion while the same rate in 2005 was 1.21 in profit. Such data on Ford finances was placed in recently issued company papers.

The gain in 2006 first quarter came with 9% decrease at $41.06 billion against the $45.14 billion in 2005. The pre-taxation losses reached this year the figure of $1.97 billion compared to $1.55 billion profit in 2005 the same period.

Ford ties such a situation directly to the restructuring outgoing remembering that the “Way Forward”, Ford’s plan of company basic reconstruction provides for closure of 12 factories and discharging over 30 000 employees.