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    DOW JONES NEWSWIRES 
 

Ford Motor Corp. (F) Chief Executive Alan Mulally said the auto manufacturer had no intention of tapping into equity markets as part of its long-term transformation plan.

Mulally said Ford, the only Big Three company that hasn't filed for bankruptcy protection, said it would remain focused on improving its balance sheet and reducing debt.

The company's long-term plans include restructuring to operate profitably in the new and changing market and accelerate the development of new products based on consumer demand.

Ford has shunned the kind of U.S. government bailout given to bankrupt rivals General Motors Corp. (GMGMQ) and Chrysler LLC. The company has repeatedly said it doesn't have any plans to seek a U.S. government bailout or participate in the government's auto-parts supplier aid program even as car and trucks sales have plummeted.

However, Ford has sought aid for its credit arm and to comply with environmental regulations in the U.S. and abroad.

Ford's shares were down 2.6% to $6.03 in recent trading. The stock has surged after tumbling to nearly $1 in November.

-By John Kell, Dow Jones Newswires; 201-938-5285; john.kell@dowjones.com