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Ford to Close Australia Auto Plants in 2016

Source: Ford

Ford said on Thursday it is closing its two Australian auto plants and will cease production in the country in October 2016.

(Read More: Ford's Stock: Going into Overdrive Or Headed for a Breakdown?)

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.

(Read More: Ford's Biggest US Problem Is a Good One: Too Few Fusions)

The car manufacturer has struggled with sliding sales, high costs and a strong Australian dollar.

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