We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ford (F) & Thermo Fisher to Produce COVID-19 Testing Kits
Read MoreHide Full Article
Ford Motor Company (F - Free Report) is widening its efforts to develop and produce critically-needed medical equipment and supplies for health care staff, first responders as well as coronavirus patients.
Recently, Ford announced its collaboration with Thermo Fisher Scientific to expand the production of COVID-19 testing collection kits. Ford engineers are working to set up new selection kit production machinery at its Kansas City Assembly Plant.
Further, Ford is also working on producing reusable gowns for health care employees with Joyson Protective Systems. The gowns will be made of material that is usually used to make airbags. Ford plans to manufacture 75,000 gowns by Apr 19 and ramp up to 100,000 gowns a week from next week, with 1.3 million gowns delivered by early July.
Notably, Ford partnered with 3M in March to expand the manufacturing capacity of the existing Powered Air Purifying Respirators (PAPR). Since then, the companies have been focusing on integrating their complementary strengths and resources to meet the global demand spike for PAPRs and N95 respirators at 3M’s U.S.-based manufacturing facilities stemming from the coronavirus crisis.
Ford is also looking forward to manufacture new-generation PAPRs at its Vreeland facility in Michigan, eventually allowing 3M to increase production to more than 100,000 PAPRs to combat the deadly virus. This new respirator could be produced in less than four weeks by around 90 paid United Auto Workers (UAW) workers.
The newly-developed respirators feature a hood and face shield to protect head and shoulders, while a high-efficiency filter system provides up to eight hours of filtered air. It is powered by a rechargeable, compact battery that lets first-line defenders use the respirator continuously.
Meanwhile, Ford is producing face masks for global internal use and is trying to pursue certification for medical-use at its Van Dyke Transmission Facility. Around 30 paid UAW volunteers will begin manufacturing masks in the plant's ISO Class 8 cleanroom, allowing for the safe production of face masks.
Furthermore, Ford has also teamed up with GE Healthcare to boost the production of GE's ventilator design to assist patients with respiratory failure or pathogen-caused trouble in breathing. Built by paid UAW volunteers, the goal is to produce 50,000 Model A-E ventilators by Jul 4 to help COVID-19 patients.
Various other auto bigwigs that have temporarily shut down auto plants are taking necessary steps to assist in the production of key medical equipment amid the pandemic. U.S. top carmaker General Motors (GM - Free Report) is collaborating with Ventec Life Systems to boost the production of respiratory care products to fight against the COVID-19 pandemic. EV maker Tesla (TSLA - Free Report) has collaborated with medical device maker Medtronic to make ventilators. Volkswagen (VWAGY - Free Report) is in talks with authorities and established an international task force to explore options, while Daimler AG and BMW AG are also exploring options to use 3D printers to produce ventilators.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
Image: Bigstock
Ford (F) & Thermo Fisher to Produce COVID-19 Testing Kits
Ford Motor Company (F - Free Report) is widening its efforts to develop and produce critically-needed medical equipment and supplies for health care staff, first responders as well as coronavirus patients.
Recently, Ford announced its collaboration with Thermo Fisher Scientific to expand the production of COVID-19 testing collection kits. Ford engineers are working to set up new selection kit production machinery at its Kansas City Assembly Plant.
Further, Ford is also working on producing reusable gowns for health care employees with Joyson Protective Systems. The gowns will be made of material that is usually used to make airbags. Ford plans to manufacture 75,000 gowns by Apr 19 and ramp up to 100,000 gowns a week from next week, with 1.3 million gowns delivered by early July.
Notably, Ford partnered with 3M in March to expand the manufacturing capacity of the existing Powered Air Purifying Respirators (PAPR). Since then, the companies have been focusing on integrating their complementary strengths and resources to meet the global demand spike for PAPRs and N95 respirators at 3M’s U.S.-based manufacturing facilities stemming from the coronavirus crisis.
Ford is also looking forward to manufacture new-generation PAPRs at its Vreeland facility in Michigan, eventually allowing 3M to increase production to more than 100,000 PAPRs to combat the deadly virus. This new respirator could be produced in less than four weeks by around 90 paid United Auto Workers (UAW) workers.
The newly-developed respirators feature a hood and face shield to protect head and shoulders, while a high-efficiency filter system provides up to eight hours of filtered air. It is powered by a rechargeable, compact battery that lets first-line defenders use the respirator continuously.
Meanwhile, Ford is producing face masks for global internal use and is trying to pursue certification for medical-use at its Van Dyke Transmission Facility. Around 30 paid UAW volunteers will begin manufacturing masks in the plant's ISO Class 8 cleanroom, allowing for the safe production of face masks.
Furthermore, Ford has also teamed up with GE Healthcare to boost the production of GE's ventilator design to assist patients with respiratory failure or pathogen-caused trouble in breathing. Built by paid UAW volunteers, the goal is to produce 50,000 Model A-E ventilators by Jul 4 to help COVID-19 patients.
Ford currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Various other auto bigwigs that have temporarily shut down auto plants are taking necessary steps to assist in the production of key medical equipment amid the pandemic. U.S. top carmaker General Motors (GM - Free Report) is collaborating with Ventec Life Systems to boost the production of respiratory care products to fight against the COVID-19 pandemic. EV maker Tesla (TSLA - Free Report) has collaborated with medical device maker Medtronic to make ventilators. Volkswagen (VWAGY - Free Report) is in talks with authorities and established an international task force to explore options, while Daimler AG and BMW AG are also exploring options to use 3D printers to produce ventilators.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>