Ford Motor Co. is shutting a factory in Brazil in an attempt to turn around its money-losing South American business, dealing a blow to Jair Bolsonaro less than two months into his presidency.
The automaker expects to record $460 million in charges related to exiting the heavy-truck business in all of South America, according to a statement. Its halting production this year at its So Bernardo do Campo assembly plant, which employs almost 2,800 workers building Cargo, F-4000 and F-350 trucks, plus the Fiesta small car.
We know this action will have a major impact on our employees in So Bernardo and we will be working closely with all our stakeholders on the next steps, Lyle Watte…
Read the full article at: http://fortune.com/2019/02/20/ford-shutters-brazil-truck-plant/