Ford May Shut Venezuela Plant, Can't Get Parts, Executive Says

June 17 (<a href=quote.bloomberg.com>Bloomberg) -- Ford Motor Co., the world's second- largest carmaker, may pull operations out of Venezuela because difficulty importing parts will probably force the company to suspend production a third time in seven months, the carmaker's regional president said.

We are concerned about our ability to produce cars in Venezuela.'' said Richard Canny, Ford's president of South American operations, in an interview at a press conference in Sao Paulo. We will probably have to shut down the factory again in the coming weeks.''

Restrictions on dollar sales have cut off Ford's access to currency to buy parts to assemble cars. The government limited dollar sales in January to brake a fall in international reserves when investors lost confidence in the bolivar following a two- month national strike.

Ford shut operations at its factory in Venezuela during the strike and again for several weeks in February and March because of a lack of imported parts.

The strike in December and January, aimed at ousting President Hugo Chavez, lowered oil production by as much as 95 percent contributing to a 29 percent contraction in the economy in the first quarter.