The United Autoworkers Union expanded its strike action late Wednesday to include Ford's biggest, and most-profitable, assembly plant in Louisville, Kentucky.
shares slumped lower in pre-market trading after the United Autoworkers Union expanded its strike action to include its biggest production facility in a surprise escalation of its dispute with the Big 3 carmakers.
The plant produces Ford's Expedition SUV, as well as Super Duty pickup trucks and the Lincoln Navigator and generated more than $25 billion in revenues for the group last year. "The decision by the UAW to call a strike at Ford’s Kentucky Truck Plant is grossly irresponsible but unsurprising given the union leadership’s stated strategy of keeping the Detroit 3 wounded for months through 'reputational damage' and 'industrial chaos', Ford said in a statement.
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