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

Assembly line of engines for the Ford KA 1.0 3 cylinders at the Ford Engines plant in Cama├žari, Brazil.Paulo Fridman | Corbis News | Getty ImagesFord 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.Ford 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 for accelerated depreciation and amortization.Ford has operated in Brazil for more than a century, however the region and operations have been unstable in recent years.This is a breaking news story. Please check back for updates.

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