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 April 12, 1999
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(Date of earliest event reported)
FORD MOTOR COMPANY
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-3950 38-0549190
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(Commission File Number) (IRS Employer Identification No.)
The American Road, Dearborn, Michigan 48121
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 313-322-3000
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Item 5. Other Events.
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News release dated April 12, 1999, filed as Exhibit 20 to this Current
Report on Form 8-K, is incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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EXHIBITS
Designation Description Method of Filing
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Exhibit 20 News release dated Filed with this Report
April 12, 1999
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: April 12, 1999 By:/s/Peter Sherry, Jr.
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Peter Sherry, Jr.
Assistant Secretary
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EXHIBIT INDEX
DESIGNATION DESCRIPTION PAGE
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Exhibit 20 News release dated April 12, 1999
NEWS RELEASE
Global News and Information, Ford Motor Company, The American Road, Dearborn, MI
48121 Telephone: 313.322.9600; Fax: 313.845.0570 http://media.Ford .com
Contact: Don Hume Jim Cain
Ford Motor Company (Europe) Ford Motor Company (U.S.)
44+1277 252018 313-322-3428
FORD REACHES AGREEMENT TO BUY KWIK-FIT
DEARBORN, Mich., April 12, 1999 - Ford Motor Company [NYSE: F] has announced it
has reached agreement to acquire Kwik-Fit, Europe's largest independent vehicle
fast-fit (maintenance and light repair) chain.
Kwik-Fit has more than 1,900 service points in the United Kingdom, Ireland and
continental Europe trading primarily under the Kwik-Fit and Speedy brands, as
well as mobile service, mobile tire replacement and car insurance operations.
"The acquisition of Kwik-Fit is an important step towards Ford's goal to become
the world's leading consumer company that provides automotive products and
services through world-class brands," said Jacques Nasser, Ford president and
chief executive officer.
"Kwik-Fit is an outstanding company that has earned a leading position in the
fast-fit market and created a successful customer formula - innovative high
value services coupled with convenient locations and knowledge of the customer,"
said Nasser.
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"Kwik-Fit will provide Ford with an expanded capability to service customers
owning competitive brands and, in many cases, older vehicles. It will allow us
to interact with millions of customers we are not reaching today. In this way,
the acquisition complements our primary effort with dealers to grow their share
of the service business with newer vehicle owners."
The total consideration is approximately (pound)1 billion (equivalent to $1.6
billion) in cash.
"Since the first Kwik-Fit center was opened in Edinburgh in 1971, the Kwik-Fit
group has become the largest provider of specialist automotive services in
Europe," said Sir Tom Farmer, chairman and chief executive of Kwik-Fit. "It has
been our aim to provide the motorist with services from the showroom to the
scrap yard. Not only does this development take us a big step closer to
achieving this, but it also provides us with a tremendous opportunity to
complement Ford's global strategy and expand the Kwik-Fit brand as widely as
possible."
This transaction is subject to regulatory approval and the necessary level of
Kwik-Fit shareholder support. The directors of Kwik-Fit are unanimously
recommending that all Kwik-Fit shareholders accept Ford's offer.
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Ford Motor Company is the world's second largest automaker. Its automotive
brands include Aston Martin, Ford, Jaguar, Lincoln, Mazda, Mercury and Volvo.
Its automotive-related services include Ford Credit, Quality Care, Hertz and
Visteon Automotive Systems.
Global News and Information, Ford Motor Company, The American Road, Dearborn,
MI 48121
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