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Mondeo maker Ford today said it expects to return to the black on a full-year basis in 2011. The carmaking giant also announced plans to expand into the fast-growing China market by building a new factory there.
The new plant will have the potential to build 150,000 vehicles a year, taking Ford's total annual capacity in China to 600,000 by 2012.
Ford, the only major Detroit carmaker not to seek a US government bailout, posted a $2.3 billion (£1.4 billion) quarterly net profit in July, its first quarterly profit after four consecutive losses. It was boosted by an increase in domestic market share and by debt reduction.
