Thursday 21 January 2021

Ford to close three plants in Brazil

DETROIT, 7 days ago

US automaker Ford Motor Co has announced that it will close its three plants in Brazil this year and take pretax charges of about $4.1 billion.
Production will cease immediately at Ford’s plants in Camaçari and Taubaté, with some parts production continuing for a few months to support inventories for aftermarket sales. The Troller plant in Belo Horizonte, Brazil, will continue to operate until the fourth quarter, said a Reuters report.
The closure comes as the Covid-19 pandemic amplified the company’s under use of its manufacturing capacity, the report said.
Ford officials said the action was part of the $11 billion global restructuring previously forecast by the company, of which it had accounted for $4.2 billion through the third quarter of 2020. Ford shares closed up more than 3%.
The plant closures affect about 5,000 employees, mostly in Brazil, Ford spokesman T.R. Reid said.


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