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Ford to Close Two Assembly Plants in Russia
Ford Motor Co. is expected to announce on Wednesday it is closing two of three factories it operates in Russia as a cost-cutting move, Bloomberg News says.
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Ford Motor Co. is expected to announce on Wednesday it is closing two of three factories it operates in Russia as a cost-cutting move, Bloomberg News says.
Reuters reported earlier this month that Ford intended to decide by spring whether to shut down two plants in the country, where it has been losing money for years, as part of its global restructuring.
The company and local partner Sollers PJSC make Focus and Mondeo sedans in Leningrad and Fiesta superminis and EcoSport small SUVs in Tatarstan. A second plant in Tatarstan builds Kuga and Explorer SUVs and Transit commercial vans
The Reuters and Bloomberg reports indicate Ford may shut down everything in Russia except the Transit van line. Bloomberg says Sollers has confirmed the partners are finalizing an agreement about the future of the venture they launched eight years ago.
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