Ford Motor Co. F,
said Monday that it would stop producing in Brazil, closing two plants immediately and another at the end of the year, reducing sales of some vehicles made in Brazil as inventory was sold. Manufacturing operations in Argentina and Uruguay and sales companies in other South American markets are not affected, Ford said. The company said it will maintain some customer support, product development and related operations in Brazil, as well as its regional headquarters in São Paulo. The automaker said it will “provide possible reasonable alternatives” for stakeholders to take over the available plants. In connection with this decision, Ford expects to collect around $ 4.1 billion before taxes, including about $ 2.5 billion in 2020 and about $ 1.6 billion in 2021. Ford shares added to the news gains, recently 2.3% more. Shares have lost 0.3% in the last twelve months, in contrast to gains of around 17% in the S&P 500 index. SPX,