SCRIBA, N.Y. — The emergency response in Scriba is over, after hours of emergency response was necessary at Novelis Aluminum Plant. This is the third fire here in the span of only a few months. The massive plant feeds the auto industry, most notably, Ford. Ford uses the aluminum sheets to make the popular F-150 pick-up trucks.
Emergency crews arrived at the scene at around 8:45 a.m.
From stocks to dealerships, may in the automotive industry will be feeling the effects of these back-to-back fires. Shares of Ford Motor Company stock closed down on Thursday, off by nearly 4%.
According to Patrick Penfield, professor of supply chain practice at Syracuse University, prices for parts and Ford F-150’s could increase.
“Especially if you’re looking to buy one next year. It’s going to cost more and there’s gonna be a lack of availability,” said Penfield.
The recent group of fires at Novelis could lead to Ford looking to addition aluminum suppliers.
It’s estimated that the fire back in September at Novelis cost Ford somewhere between one and two billion dollars.
CNY Central asked Ford multiple questions like what the future of their relationship with Novelis could look like and will prices of vehicles go up. The company provided a brief statement saying that it is aware of the fire and is working with Novelis to learn more.
