FORD PALLADIUM
April 1st, 2002
BY PHILIP FINE
FORD has confirmed in its annual report to the US Securities and Exchange Commission that it will be reducing its stockpile of the precious metal palladium, following a substantial decline in world prices. The vehicle manufacturer lost US$1 billion last year on its stocks of palladium, which is used in catalytic converters. Its value has dropped by almost 75 per cent in the past few months. "We have accordingly revised our stocking requirements and are in the process of reducing metals that are in excess of those stocking requirements," ...
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