Ford Motor is ending vehicle manufacturing in Brazil, as part of a restructuring process.
The automaker is shutting three plants in Brazil, as part of the South America restructuring process which is estimated to lead to $4.1 billion in pretax charges, according to the company’s statement.
Ford is currently restructuring its global operations, including those in South America. The company aims to execute a $11 billion turnaround plan, and hopes to achieve an 8% adjusted EBIT margin and to consistently generate strong adjusted free cash flow.