Posted on 03/05/2019 8:55:45 AM PST by NorseViking
MOSCOW (Reuters) - Ford Motor Co is considering closing two major plants in Russia as part of its global plan to restructure operations in unprofitable regions, three industry sources told Reuters.
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.
In Russia, where Ford's plants have a total production capacity of 360,000 vehicles a year, Ford could close its site in the northern Leningrad region and one of its plants in the central region of Tatarstan, the three sources in the industry said.
(Excerpt) Read more at yahoo.com ...
But I had read Ford was expanding in Colombia....?
” fourth-quarter losses in every part of the world outside North America”.
Thank you Mr. Trump
Ford has plants in Russia? How can that be? Aren’t there sanctions that say this is a no no?
They’re closing a plant in Taterstan?
I hope those people in Boise can find another job.
Ouch !
Ford and GM have Russian plants and have for two decades.
Generally Russians favor the larger GM cars - Cadillac and the big Chevrolet’s. But European cars are now more prevalent everywhere in Russia: BMW, M-B, Volvo, Audi...the oil and gas economy keeps people in Moscow in better condition then you might think.
Interestingly, Toyota’s are popular in Russia because of their reliability and the fact Toyota has a manufacturing plant in St. Petersburg, Russia. The AWD version of the RAV4 would certainly be popular, given the severe Russian winters.
Maybe they can repurpose the plant.
Instead of making cars they could make.....
THE AMAZING VEGOMATIC!
It slices! It dices. It turns potatoes into handfuls of delicious fries!
Mmmm...that’s good bass...mmmm..
(This one does need the </sarc> tag.)
Amazing what cutting our own Federal Consumption (Corp Income) Tax will do. Now let’s get rid of the rest of it.
Henry Ford built a plant in Russia around 1919...if I recall
Jimmy Carter gave the Soviets a Ford truck plant with the proviso that the trucks had to be painted red so they would have no military purpose.
When they invaded Afghanistan in 1979, the Soviets set up a paint shop across the border so their new Ford army trucks could be painted olive drab before entering the war zone.
Why anyone would risk assets in the Kleptocratic state of Russia is beyond me. Putin and gang have turned Russia into their own personal bank account.
Because Columbia has embraced market reforms and improved relations with the USA.
Maybe you should check out what happened to General Motors when the US government took over, stiffed bondholders that were legally first in line in favor of unions, then FORCED several privately owned GM dealerships to completely close.
They are no more kleptocratic than DC.
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