Ford to close Australia auto plants
SYDNEY May 23 (Reuters) - Ford Motor Co said on Thursday it is closing its two Australian auto plants and will cease production in the country in October 2016.
Ford Australia Chief Executive Bob Graziano said the company will close its engine plant in Geelong and its assembly plant in Broadmeadows, both in the state of Victoria.
The car manufacturer has struggled with sliding sales, high costs and a strong Australian dollar.
- Target holiday cyber breach hits 40 million payment cards
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Home sales tumble, jobless claims at near nine-month high
- Zuckerberg to sell Facebook shares worth about $2.3 billion
- Special Report: Why Ukraine spurned the EU and embraced Russia