Ford plants sell out -

Ford plants sell out

Ford plants in Russia will be sold at auction.

Ford plants sell out

American automaker Ford will sell its plants in the Leningrad region and Tatarstan at the auction, the head of the Ministry of Industry and Trade of Russia Denis Manturov told reporters.
"In Naberezhnye Chelny and in Vsevolozhsk, Ford fully repaid the loan to Vnesheconombank, so today the procedure for implementing these plants Ford will be carried out according to the existing procedure through bidding," reports Manturov.
Officially, the plant in Vsevolozhsk (Leningrad region) stops its work on Thursday, June 20th. The conveyor was stopped a few days ago. Most of the workers voluntarily leave with compensation. Total layoffs will affect more than 1,000 people.

In addition to the factories in Vsevolzhsk and Naberezhnye Chelny, the factory for the production of engines in the city of Yelabuga (Tatarstan) will be closed.
Plans for the closure of factories in Russia automaker announced in March of this year. Ford will stop production of passenger cars in Russia and focus on the light commercial vehicle market. To do this, there will be one enterprise in Tatarstan. Thus, the auto concern hopes to move to a more competitive business model.

As it became known in January of this year, the auto concern is planning to reorganize its business in Europe too. During this process, thousands of jobs will be cut and some factories closed. In particular, by September 2020, two factories in the UK will also close, more than 1.5 thousand people will be cut.

The reason for this decision were the problems associated with the tightening of legislation in European countries, as well as the uncertainty in the market caused by the upcoming Brexit.

Source: Russian newspaper

21.06.2019 12:36:00
(Automatic translation)

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