Ford dips as another large fire breaks out at the New York Novelis aluminum plant
Shares of US auto giant Ford are down more than 2% on Thursday morning following reports of another major fire at its primary aluminum supplier’s plant in Oswego County, New York.
Local media reported that a four-alarm fire broke out at the Novelis plant, which supplies 40% of the aluminum sheet for the US auto industry, on Thursday morning.
Last month, Ford said a September fire at the plant would hit its earnings by between $1.5 billion and $2 billion in the fourth quarter. The company said it would be able to mitigate about $1 billion of that next year.
As of 10:15 a.m. ET, local officials said the fire is under control and everyone had been safely evacuated. Novelis previously said it would be able to restart operations at the part of the plant most damaged by the September fire next month.
Last month, Ford said a September fire at the plant would hit its earnings by between $1.5 billion and $2 billion in the fourth quarter. The company said it would be able to mitigate about $1 billion of that next year.
As of 10:15 a.m. ET, local officials said the fire is under control and everyone had been safely evacuated. Novelis previously said it would be able to restart operations at the part of the plant most damaged by the September fire next month.
