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Ford to end manufacturing in Brazil, expects $4.1 billion in charges

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Assembly line of engines for the Ford KA 1.0 3 cylinders at the Ford Engines plant in Camaçari, Brazil.

Paulo Fridman | Corbis News | Getty Images

Ford Motor is ending vehicle production in Brazil under a restructuring of its South American operations. The actions, including closing three plants, are expected to result in $4.1 billion in pretax charges, Ford said Monday.

The automaker said it will record about $2.5 billion in cash charges, primarily in 2021, for employee separation, termination, settlement and other payments. In addition, it will post about $1.6 billion in non-cash write-offs for tax receivables and accelerated depreciation and amortization. About $2.5 billion of the…



Source cnbc.com

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