THE second-in-command at global motor giant Ford has backed its Halewood transmission plant to prosper as the international car market recovers.

Widnes-born Ford executive vice- president and chief financial officer, Lewis Booth, is widely credited with steering the group clear of bankruptcy protection in the worst downturn the industry has seen in living memory.

While US rival General Motors was forced to throw itself on the mercy of US and Canadian taxpayers, Ford embarked on a refinancing programme under the guidance of Booth and new chief executive Alan Mulally which has seen it emerge in control of its future and plotting recovery.

Mr Booth was back in Liverpool to accept an Honorary Doctorate in Law this week from the University of Liverpool, 40 years to the month since he completed his Bachelor of Engineering degree with honours at the university.

He spoke about the journey through two turbulent years and the prospects for a leaner motor industry, including the 50:50 joint venture Getrag Ford transmissions business, at Halewood, which was launched nine years ago with German partner Getrag.

Situated next to the Land Rover plant which was previously the Ford-owned Jaguar factory before its sale to Indian conglomerate Tata as part of a £1.15bn deal two years ago, Getrag Ford makes gear boxes for vans, mostly Ford Transits, employing about 1,200 staff.

This was Mr Booth’s first visit to Liverpool in six years, and prior to that his previous return was 25 years ago.

But he said Liverpool was still firmly in the minds of Ford executives.

“Getrag Ford is a really great partnership and is expanding around the world with us,” he said.

“I hope for better things to come for the plant. Of course, it depends on the economy.

“If we are selling more cars, then that is definitely good for the tranmissions business, and the climate in Britain has changed a lot.”

And as the motor industry gears up to keep pace with a rise in post-credit crunch consumer demand, Ford is acutely aware of the opportunities on the global stage, which could also benefit Getrag Ford.

Mr Booth said: “We can see the economy starting to improve in the US. We are watching Europe, and that has started to improve, and we are watching Asia and it is on fire there, particularly China and India.

“There is staggering growth in China of about 8% to 10% annually.

“We have to continue to improve the business we have, and to continue to improve our profit in North America and Europe, but we have to grow in Asia.

“We are one of the fastest growing brands in China, but it is still a small part of our business.”

However, he dismissed the possibility of a link-up with Tata to effect a swifter penetration of the Indian market: “I think we will probably do it on our own. We have spent the last three years bringing all the Ford businesses together.”

The retrenchment of Ford was a Mulally decree in a bid to gain tighter control of the business.

But, in 2008, Mr Booth drove a financial restructuring that had begun two years earlier which ensured Ford avoided General Motors’ fate.

Just prior to the onset of recession, Ford obtained £15.2bn when credit was cheap, attracting criticism that it was effectively mortgaging its future.

But Mr Booth described the strategy as “brave and prescient”.

In May last year, the group tapped in to a further £6.8bn of revolving credit, restructured another £6.8bn in debt and raised almost £1bn through the issue of new shares.

Late last year, it raised another £371m in new shares, issued £1.64bn- worth of convertible bonds and announced plans for a further £657m share issue during the course of this year.

But Mr Booth explained the need for cash resources was to ensure that Ford could continue to invest in new products and begin to repair the damage to the balance sheet stemming from huge losses it had previously incurred. Mr Booth said: “It’s not about borrowing more money, it’s about making more money so you can pay back some of those debts.”

He added, perhaps understatedly: “It has been an exciting two years.

“We refinanced ourselves and had a plan to get through what we thought were difficult economic times coming, but we never expected them to be as bad as they were.

“Fortunately, our plan was good and we managed cash quite tightly. It is slow, but it is encouraging.”

He was delighted to be back on home ground where his father, T Lewis Booth, established his Ford, Austin and Morris dealership, run now by Mr Booth’s twin brother, John.

He said: “It is an old name in the town – Booths of Ditton.

“We have a new granddaughter in the family and we are all going to the dealership to get a picture of her in front of the sign.

“No matter where you go in the world, home is still home.”

And Mr Booth has seen plenty of the world in a 32-year career with Ford.

He has taken in Europe, Japan, the Asia-Pacific region and now North America.

But he reveals his globetrotting only began after he was turned down for a job in his home town plant of Halewood: “I was working in Essex and got turned down at Halewood.

“I could have stayed here a bit longer if I had got the job, because I had commitments with children. But I went to Germany soon after that, and my international travels started.”