Ford takes bids for St. Paul factory's hydroelectric plant

St. Paul, Minn. — (AP) - The Ford Motor Company has begun marketing the dam and hydroelectric power plant at its manufacturing facility in St. Paul.

A company spokeswoman says the company has prequalified several potential buyers, including utility companies, government agencies and investment firms.

A buyer is expected to be picked in February. The plant, which makes Ranger pickups, is scheduled to close by June 2008.

When the hydroelectric plant was built in 1924, it cost about $1.5 million. It's been the plant's main source of electricity ever since.

Ford lost $7 billion during the first nine months of the year. Almost half of its hourly production workers nationwide have accepted buyouts.

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