Ford shares gained over 3% on Monday after it announced that it would be closing its production operations in Brazil in 2021. Ford’s South American headquarters and product development centers will remain in Brazil but vehicles will be sourced from Argentina, Uruguay and other markets. Ford (F) is evaluating its businesses around the world and restructuring in ways that advance Ford’s plan to increase its profit margins and free up cash flow. Ford’s plans to revamp its automotive business include simplifying and modernizing all aspects of the company by building on its existing strengths and partnering with others to gain expertise and improve efficiency.
https://www.tipranks.com/news/ford-closes-production-facilities-in-brazil