Ford will stop manufacturing in Brazil and sees fees of $ 4.1 billion from South American restructuring
Assembly line for the engines for the Ford KA 1.0 3-cylinder in the Ford Engines plant in Camaçari, Brazil.
Paulo Fridman | Corbis News | Getty Images
Ford Motor ends vehicle production in Brazil as part of a restructuring of its South American operations. The measures, including the closure of three plants, are expected to result in input tax charges of $ 4.1 billion, Ford said Monday.
Ford said it will primarily charge around $ 2.5 billion in cash fees in 2021 for employee separation, termination, billing and other payments. In addition, approximately $ 1.6 billion in non-cash write-downs will be recorded for tax claims and accelerated write-downs.
Ford has been operating in Brazil for more than a century, but the region and operations have been unstable in recent years.
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