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Plant Closings

General Motors To Cut Production at Four Plants Next Week for Semiconductor Shortage

Reuters | Equities.com |

General Motors Co became the latest automaker hit by the global shortage of semiconductor chips as the U.S. automaker said on Wednesday it will take down production next week at four assembly plants.

GM said it will cut production entirely during the week of Feb. 8 at plants in Fairfax, Kansas; Ingersoll, Ontario; and San Luis Potosi, Mexico. It will also run its Bupyeong 2 plant in South Korea at half capacity that week.


Ford Motor To Close All Three Plants in Brazil, Take $4.1 Billion Pretax Charge

Reuters | Equities.com |

Ford Motor Co said on Monday it will close its three plants in Brazil this year and take pretax charges of about $4.1 billion as the COVID-19 pandemic amplified the company’s under use of its manufacturing capacity.

Production will cease immediately at Ford’s plants in Camaçari and Taubaté, with some parts production continuing for a few months to support inventories for aftermarket sales. The Troller plant in Horizonte, Brazil, will continue to operate until the fourth quarter.

Ford officials said the action was part of the $11 billion global restructuring previously forecast by the U.S. automaker, of which it had accounted for $4.2 billion through the third quarter of 2020. Ford shares closed up more than 3%.


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