UAW-Ford Tentative Agreement Ratification Result

DEARBORN, Mich., Nov. 2 /PRNewswire-FirstCall/ -- Editor's Note: The following statement is attributable to Joe Hinrichs, group vice president, Global Manufacturing and Labor Affairs, Ford Motor Company (NYSE: F).

We appreciate the UAW leadership for working with us to reach a tentative agreement on further modifications to our national labor agreement. Ford is disappointed that the additional changes were not ratified.

In March, the UAW-Ford membership ratified changes to the 2007 UAW-Ford national labor agreement and the Voluntary Employee Beneficiary Association health care trust that went most of the way in moving Ford to competitive parity with foreign-owned automakers. The additional modifications we sought recently were designed to honor pattern bargaining and provide Ford with similar additional efficiencies as those ratified this year for our domestic competitors.

All of us at Ford are absolutely committed to continuing to make progress on our transformation plan, and we will take the necessary steps to be competitive with the best in the business.

Moving forward, we will work with the UAW to discuss the next steps to ensure Ford remains competitive so we can continue to make product commitments and invest in our manufacturing facilities here in the United States.