“The Ford Blue Oval is back where it belongs with the Ford family of 166,000 employees around the world. This is a great day for us and is the result of several years of hard work and progress by everyone associated with Ford.” says Bill Ford, executive chairman, Ford Motor Company
The Ford Blue Oval, F-150 and Mustang trademarks is now back at Ford's hand after having it captive as collateral to help Ford restructure its company way back December of 2006. Together with these trademarks were other assets that were valued at $23.5 billion.
Bill Ford added: “When we pledged the Ford Blue Oval as part of the loan package, we were not just pledging an asset. We pledged our heritage. The Ford Blue Oval is one of the most recognized symbols in the world, and it is a source of great pride and passion, both inside and outside our company. Getting the Ford Blue Oval back feels amazing, and it is one of the best days that I can remember.”
In November of 2007, Ford negotiated a transformational labor agreement, with a lower wage structure for new employees and flexible work rules to boost efficiency and maximize sales profit.
“We are so proud of today’s decision by Moody’s and the resulting release of all collateral – particularly the Ford Blue Oval. This is an important milestone and further proof that, by staying laser-focused on our One Ford plan, the Ford team can deliver great products, build a strong business and contribute to a better world even through the most challenging external environment.” stated Alan Mulally, president and chief executive officer, Ford Motor Company.
Last September, Ford Motor Company completely paid back its loan, and started the first payment in six years of its dividend March this year.
Alan Mulally adds “Moving forward, we will continue to focus on driving profitable growth for all of our stakeholders. We are confident that, by staying focused on our plan and working together, we will maintain strong investment grade ratings through all economic cycles.”