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FORD MOTOR COMPANY

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Ford Motor : Donates Engines to Promote Teaching of Technical Skills

11/20/2020 | 12:06pm EST

Basic Education Deputy Minister, Dr Reginah Mhaule, has received one of 240 locally assembled engines and gearboxes, valued at R7.8 million, from the Ford Motor Company of Southern Africa (FMCSA).

Mhaule received the donation on behalf of Otto du Plessis High School. The handover took place on Thursday at the school in Port Elizabeth, Eastern Cape.

The 240 engines will be distributed to technical high schools already offering Automotive Mechanical Technology, to support the teaching of the subject, as well as those that have stopped offering the subject due to lack of resources.

"These engines will go a long way in solidifying the department's Three-Stream Model and truly enhance the teaching of Automotive Mechanical Technology. For this, we are truly indebted to the Ford Motor Company of Southern Africa," said Mhaule.

Mhaule thanked Ford for the initiative, saying it is a significant boost to the local economy, which demonstrates the importance of public-private sector partnership.

Ford's Struandale Engine Plant Manager, Shawn Govender, said the donation will also go towards skills development for the youth.

"The engines are produced at Ford's Struandale Engine Plant in Port Elizabeth, and will be used to promote skills development, training and youth empowerment in the automotive industry," said Govender.

The engines are produced for the domestic market and export customers around the world, and are used in a variety of models, including the Ford Ranger pickup, the Ranger Raptor high-performance off-road pickup and the Everest seven-seater sport utility vehicle (SUV).

Copyright SAnews.gov.za. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials (USD)
Sales 2020 117 B - -
Net income 2020 274 M - -
Net cash 2020 4 738 M - -
P/E ratio 2020 -367x
Yield 2020 1,30%
Capitalization 45 831 M 45 831 M -
EV / Sales 2020 0,35x
EV / Sales 2021 0,27x
Nbr of Employees 190 000
Free-Float 98,0%
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Mean consensus HOLD
Number of Analysts 19
Average target price 10,02 $
Last Close Price 11,52 $
Spread / Highest target 21,5%
Spread / Average Target -13,0%
Spread / Lowest Target -38,4%
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Managers and Directors
NameTitle
James D. Farley President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
John T. Lawler Chief Financial Officer & Vice President
Kenneth E. Washington Chief Technology Officer
John Lawson Thornton Independent Director
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