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Ford Closing Russian Factories


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Ford To Close Three Factories In Russia, Resulting In 'Significant' Job Losses

https://www.rferl.org/a/ford-to-close-three-factories-in-russia-resulting-in-significant-job-losses/29846018.html

Ford has announced that its joint venture in Russia, Ford Sollers, is closing two assembly plants and an engine plant -- a move that it said would lead to "significant" job losses in St. Petersburg and Russia's Republic of Tatarstan.

In a March 27 statement from its European headquarters in Cologne, Germany, Ford said it will end its production of all passenger vehicles in Russia by the end of June.

It said the decision was made because "the Russian passenger vehicle market has been under significant pressure in recent years," leading to "inadequate returns" on Ford's investments in Russia.

It said "underutilized" passenger vehicle assembly plants would be closed in St. Petersburg and the city of Naberezhnye Chelny in Tatarstan, as well as an engine plant in the town of Yelabuga, also located in Tatarstan.

 

I think this is the way Ford is going now, anywhere it can't see a profit, it will pull out...gonesky.

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