A boost to Ohio
Ford is moving production of a popular small engine from Spain to a plant near Cleveland, according to a person briefed on the matter.
Ford is expected on Thursday to announce the $200 million investment at its factory in Brook Park, Ohio. The plant will produce the 2-liter EcoBoost engine now built in Valencia, Spain.
The move will add about 450 jobs at the Ohio plant. The factory has about 1,300 workers making two six-cylinder engines.
EcoBoost engines have turbochargers, which give them more power when needed. The engines are becoming popular because they get better gas mileage than larger motors.
• Dell’s net income fell 31 percent in the fourth quarter as the company continued to be hurt by a shrinking PC market.
Dell founder and CEO Michael Dell and a group of investors are buying the company for $24.4 billion with a plan to turn it around.
Dell posted net income of $530 million, or 30 cents a share, for its quarter ending in January. That was down from $764 million, or 43 cents a share, a year ago.
Revenue was $14.3 billion, down 11 percent from a year ago.
• Marriott International turned a better-than-expected profit in its fourth quarter, driven by an increased number of rooms in the hotel company’s portfolio and higher occupancy and room rates.
The company, based in Bethesda, Md., said it earned $181 million, or 56 cents a share, in the three months ending Dec. 28. That’s up from $141 million, or 41 cents a share, a year earlier.
Revenue rose 2 percent to $3.76 billion.
| Star news services