Ford to close oldest Brazil plant, exit South America truck business
Restructuring of the US company will result in 2,700 job losses as it focuses on a newer factory in the state of Bahia
Sao Paulo/Detroit — Ford Motor Company said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. Ford previously said the global reorganisation, to impact thousands of jobs and possible plant closures in Europe, would result in $11bn in charges. Following that announcement, analysts and investors had expected a similar restructuring in South America. Ford CEO Jim Hackett said in January that investors would not have to wait long for the South American reorganisation plan. The factory slated for closure is in Sao Bernardo do Campo, an industrial suburb of Sao Paulo that has operated since 1967. It first produced a number of vehicles before being switched predominantly to trucks in 2001. It makes the F-4000 and F-350 trucks, as well as the Fiesta small car, a sales laggard. The factory closure may mean Ford is refo...
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