Ford likely to close down two plants in Russia

Ford is losing money in every region where it has a plant other than North America.

According to three industry sources, Ford Motor Co is weighing its options on shuttering two of its big plants in Russia. The move is part of its global strategy to restructure operations in unprofitable regions, said sources.

Faced with fourth-quarter losses in every part of the world outside North America, Ford is making cuts in Europe, closing down vehicle lines in South America and laying off thousands of workers in China.

Ford’s plants in Russia have a total production capacity of 360,000 vehicles a year.

According to sources, Ford could close its site in the northern Leningrad region as well as one of its plants in the central region of Tatarstan, said three sources.

Categories: Creativity, Economy & Finance, Entrepreneurship, Strategy

Tags: , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: