-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HsA5IVIwASlsfe5Zr6eQ7VlpK7WzEP/XfDHfmRjOc5PxMiMJH6NQwDMrujmk0WzW s1XXc2Tz05iSgslyIQjb7Q== 0000037996-00-000021.txt : 20000320 0000037996-00-000021.hdr.sgml : 20000320 ACCESSION NUMBER: 0000037996-00-000021 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000317 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000317 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORD MOTOR CO CENTRAL INDEX KEY: 0000037996 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 380549190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-03950 FILM NUMBER: 572767 BUSINESS ADDRESS: STREET 1: THE AMERICAN RD CITY: DEARBORN STATE: MI ZIP: 48121 BUSINESS PHONE: 3133223000 8-K 1 PRESS RELEASE SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report March 17, 2000 ---------------- (Date of earliest event reported) FORD MOTOR COMPANY ------------------ (Exact name of registrant as specified in its charter) Delaware -------- (State or other jurisdiction of incorporation) 1-3950 38-0549190 ------ ---------- (Commission File Number) (IRS Employer Identification No.) One American Road, Dearborn, Michigan 48126 -------------------------------------- ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 313-322-3000 ------------ -2- Item 5. Other Events. - --------------------- Our news release dated March 17, 2000 concerning our memorandum of understanding to buy Land Rover from the BMW Group, filed as Exhibit 20 to this Current Report on Form 8-K, is incorporated by reference herein. In 1999, revenue and unit sales volume for Land Rover were approximately $5 billion and 177,000, respectively. The memorandum of understanding specifies a purchase price of 3 billion euros for the Land Rover business, of which 2 billion would be paid at closing (expected in mid-2000) and the balance would be paid in 2005. We expect the transaction to be accretive to our earnings in 2 to 3 years. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. - --------------------------------------------------------------------------- EXHIBITS -------- Designation Description Method of Filing - ----------- ----------- ---------------- Exhibit 20 News Release dated March 17, 2000 Filed with this Report SIGNATURE ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the date indicated. FORD MOTOR COMPANY ----------------------------- (Registrant) Date: March 17, 2000 By: /s/ Peter Sherry, Jr. ------------------------- Peter Sherry, Jr. Assistant Secretary -3- EXHIBIT INDEX ------------- DESIGNATION DESCRIPTION - ----------- ----------- Exhibit 20 News Release dated March 17, 2000 EX-20 2 EXHIBIT 20 Ford News Media Information Center Telephone: 1.800.665.1515 or 1.313.621.0504 Fax: 1.313.845.7512 Email: media@ford.com Internet: http://media.ford.com Contact: Ron Iori (313) 322-1524 FORD MOTOR COMPANY TO BUY LAND ROVER FROM BMW, EXPANDING LINEUP OF PREMIUM BRANDS DEARBORN, Mich., March 17, 2000 - Ford Motor Company announced today that it has reached a memorandum of understanding to buy Land Rover from the BMW Group. The transaction is subject to BMW and Ford reaching a definitive agreement, due diligence and regulatory approvals. If successful, the acquisition is expected to be completed in the second quarter. The acquisition involves the entire Land Rover line of vehicles - Range Rover, Discovery, Freelander and Defender - including assembly and engineering facilities. It does not include Rover's passenger car business or any assumption of debt by Ford. "Land Rover is a terrific global brand with a wonderful heritage," said Ford Motor Company President and Chief Executive Officer Jac Nasser. "It is our intention to leverage Land Rover to its fullest potential." "The board is enthusiastic about this opportunity," said Ford Motor Company Chairman William Clay Ford Jr. "Land Rover is known throughout the world and fits perfectly into Ford's growing family of world-class brands." "In the automotive market Land Rover is certainly one of the most famous and strongest brands in the world," said Joachim Milberg, chairman of the board of management of the BMW -2- Group. "The decision to sell Land Rover was certainly not easy. But in the light of our new strategy, we welcome the approach of Ford." The Land Rover business will become part of Ford's Premier Automotive Group, which includes the Lincoln, Volvo, Jaguar and Aston Martin brands. Land Rover sales for this year are projected at about 200,000 vehicles. "Land Rover is consistent with the strategy of growing our global premier brands with vehicles that achieve high margins and are complementary with our present product range," Nasser said. "Land Rover is considered to be the 'Jaguar' of four-wheel-drive vehicles. It solidifies our market position and business strategy for this high-growth, lucrative segment." BMW announced on Thursday that it is conducting negotiations to sell its Rover car business to Alchemy Partners, a private investment group. # # # Ford news releases and high-resolution photographs are available on the Ford Motor Company media Web (http://media.ford.com). -----END PRIVACY-ENHANCED MESSAGE-----