Home topics finance finance-cash-flow Cashflow News Tech Cashflow Ford Australia records first profit in three years David Olsen May 7, 2010 Ford Australia is hoping a $19 million profit after three years of losses will save the company from closing its Geelong, Victoria manufacturing plant. Ford Australia’s 2009 yearly net profit of $13 million comes on the back of a $274 million loss the previous year, a remarkable recovery for the company which had been under plant closure threats amid parent company consolidation plans. Ford Australia’s sales revenue was down $160 million to $3.14 billion, however the company has cut costs and increased margins by manufacturing only to order. Ford Australia president and chief executive Marin Burela, who joining the company in 2008 as the third president in 12 months, has lead the company’s revival in Australia. “In October 2008, it was the beginning of the global financial crises and we were the first company to take decisive action. Some out there criticised our response and actions but we were certain we were doing the right thing,” Mr Burela said. “I’m very proud of Geelong. Let’s look at what Geelong had to deal with. They had the closure of the engine plant hanging over their heads. They had to look more competitive over the last 12 months. They had to look at the casting plant,” he said. Mr Burela sang the praises of the unions, who have worked with the company to ensure the Geelong plant remains open. “We would