The investment is also good for a 15-percent increase in annual production thanks to retooling and other facility upgrades, which equates to an extra 55,000 units of production. Considering that Ford makes even more money off its Super Duty than it does on the hot-selling F-150, this could mean some serious coin to Ford's bottom line.
Hop below for the full press release from Ford on its latest investment.
Ford will invest $80 million and add 350 jobs at Kentucky Truck Plant to increase production by an estimated 15 percent to satisfy customer demand
$80 million investment supports facility upgrades, retooling and significant automation improvements in the body and paint shops
With the production increase in 2014, Kentucky Truck Plant will build the 5-millionth Ford F-Series Super Duty since the truck's introduction in 1999
LOUISVILLE, Ky., Jan. 30, 2014 – Ford Motor Company, the industry's truck leader, will add 350 new jobs and invest $80 million in its Kentucky Truck Plant to meet growing demand for Ford F-Series Super Duty trucks.
The $80 million will pay for facility upgrades, retooling and increased capacity to meet market demand. The investment and new employment opportunities are estimated to result in a 15 percent increase in production capacity, or approximately 55,000 units.
"Customer demand for F-Series Super Duty trucks is growing substantially, and F-Series overall is America's best-selling truck for 37 years running," said Joe Hinrichs, Ford president of The Americas. "Building on more than 100 years of manufacturing in Kentucky, we are proud to expand our profitable growth in the region as a result of our leadership in trucks and SUVs."
Kentucky Truck Plant
Kentucky Truck Plant produces F-250, F-350, F-450 and F-550 Super Duty pickups, as well as Ford Expedition and Lincoln Navigator. With the production increase in 2014, the plant will build the 5-millionth Ford F-Series Super Duty. The truck was introduced in 1999.
"We are happy to be adding new jobs at Kentucky Truck Plant, because we know the impact these jobs will have on the local community," said Jimmy Settles, UAW vice president, National Ford Department. "It's especially rewarding to know these jobs come as a result of customer demand. It shows customers understand and appreciate the dedication our UAW Ford workers put into delivering top-quality products like Ford F-Series Super Duty."
Ford began manufacturing vehicles in Kentucky in 1913 with 11 employees. Kentucky Truck Plant, which opened in 1969, covers 6 million square feet and employs close to 4,000 people.
"This is a great day to be both 'Ford Tough' and a Kentuckian," said Kentucky Gov. Steve Beshear. "For more than a century, Ford has created quality vehicles and quality jobs in the Commonwealth of Kentucky. I'm looking forward to seeing even more Kentucky-made Ford F-Series pickups on the roads, and more Kentuckians back to work as a result of this investment."